Horizon Offshore Secures First Contract in West Africa

Horizon Offshore, Inc. in association with its Nigerian affiliate, Horizon Offshore (Nigeria) Ltd., has been awarded a portion of Chevron Nigeria Ltd.'s Escravos Offshore Pipeline and Structural Installation 2-year Program (with an option for an additional year). Works will begin in late December 2002 or early January 2003. Horizon's pipelay barge, the Brazos Horizon, mobilized from the Gulf of Mexico and has arrived in Nigerian waters. The company has established A Marine Support Base in Port Harcourt to support this contract, with its Nigerian main offices located in Lagos. Horizon is actively bidding other work throughout the West Africa region. In addition to its Nigerian organization, it maintains offices and representation in Luanda, Angola. "We are very excited about the award of this contract as it emphasizes our commitment to West Africa, which has been part of our international expansion plan since our IPO," stated Bill Lam, President and Chief Executive Officer of Horizon Offshore.