HOUSTON, May 21, 2004 (PRIMEZONE) -- Horizon Offshore Contractors, Inc. (Nasdaq:HOFF) today confirmed that the LB GULF HORIZON, the pipelay barge that caught fire offshore on Tuesday, May 18, will return to the United States next week. Promptly upon the barge's arrival, a damage assessment will be conducted. The origin and cause of the fire remain unknown. Although the fire appears to have extinguished itself, and the barge remains afloat, she will not enter port or be boarded until qualified personnel determine the safety of conditions on board.
Bill Lam, President and Chief Executive Officer, said, "As previously reported, all of our personnel were safely evacuated to the accompanying tow tug, which returned to the United States earlier this week without incident. The crew are understandably tired but are otherwise in good health and spirits and will return to their homes this weekend."
Lam continued, "The crew of the GULF HORIZON is to be commended. It may be some time before we know the extent of the property damage, and we may never know exactly what caused the fire, but we know without a doubt that the crew's rapid, textbook response allowed all of the personnel on board to be safely evacuated and the barge to be recovered afloat."
The GULF HORIZON was en route to Israel to perform a job for the Israel Electric Corporation Ltd.
George Reuter, Senior Vice President and Group Executive, added, "Horizon and Israel Electric intend to replace the GULF HORIZON with another barge from Horizon's fleet, and we are working together to inspect and mobilize a substitute barge in the shortest possible time. We appreciate Israel Electric's understanding and continuing cooperation."
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