Blaming a depressed market and operator pressures, Global Industries said it had elected to restructure its operations and bidding practices in the U.S. Gulf of Mexico. Over the past year Global, which provides pipeline construction, platform installation and removal, diving services, and other marine support to the oil and gas industry, has transferred assets from the Gulf of Mexico to the Bay of Campeche and the Mediterranean, and said it would continue to redeploy assets as the situation warrants.

The company now plans to submit day-rate proposals in response to construction tenders and will selectively respond to lump-sum tenders. Global has also consolidated its shallow-water pipelay division, relocating it to Carlyss, Louisiana.

Global Industries chairman and chief operating officer William J. Doré said, “As our market indicators reflect continued lack of near-term offshore construction opportunities, we must take these measures to ensure reasonable levels of profitability.”