Gulf Island Fabrication, Inc. Announces Letter of Intent for the Topsides on the Second MinDOC T3...

Gulf Island Fabrication, Inc. (NASDAQ: GIFI), announced it has received, through Gulf Island, L.L.C., a letter of intent from Bluewater Industries, Inc., who has contracted with ATP Oil&Gas Corporation (”ATP“_), for the topsides on the second MinDOC T3 hull for ATP's Telemark Hub deepwater development project. Contract terms have not been finalized, but it is anticipated that the estimated contract value and associated man-hours on the second topsides will be included in Gulf Island Fabrication, Inc.'s backlog for the quarter ended June 30, 2008. Gulf Island Fabrication, Inc., based in Houma, Louisiana, is a leading fabricator of offshore drilling and production platforms, hull and/or deck sections of floating production platforms and other specialized structures used in the development and production of offshore oil and gas... [read full story]