Gulf Island strikes deal with Iraq

Oil is big business. The precious liquid has become a competitively sought after commodity in the United States and abroad. But its worth has erupted into feuding and violence, especially in some parts of the Middle East.

The need to support and defend offshore oil terminals in Iraq is critical.

Gulf Island Fabrication Inc. – a Houma-based company that builds specialized structures and vessels used in the oil and gas industries – is in talks with officials about constructing two offshore support vessels that would operate in Iraq.

If won, the contract would charge Gulf Island Fabrication with actually building the ships as a subcontractor.

RiverHawk Fast Sea Frames, based in Tampa, Fla., would be in charge of designing the vessels and managing the prime contract with the U.S. Navy, said Gulf Island Fabrication chairman and CEO Kerry Chauvin.

While the company is still in the “negotiating process, delivery is scheduled for early 2012,” he said.

The ships will serve in Iraq’s military as supply vessels.

“They’re going to play a central role in rebuilding the marine security capabilities for the Iraq navy,” explained Chauvin, “…[focusing] primarily on support and defense of offshore oil terminals.”

If the contract is harnessed, it could also hold greater implications for the local economy.

“This is kind of in our normal course of business, but we hope to create jobs. We don’t know exactly how many, but it should at least retain jobs,” noted Chauvin. “We’re hoping to add employees, but we don’t have any numbers on that yet.”

It’s not certain how much the ships would cost to build, he said.