Exhibit 99.1

		Global Industries, Ltd.

		For Immediate Release
PRESS RELEASE		Contact: Investor Relations
		Tel: 281.529.7799

GLOBAL INDUSTRIES, LTD. ANNOUNCES RESULTS
FOR THE THIRD QUARTER OF 2011

Houston, Texas, November 3, 2011 — Global Industries, Ltd. (NASDAQ: GLBL) today announced revenues of $67.1 million for the third quarter of 2011 compared to $189.5 million for the third quarter of 2010. Net income was $4.5 million, or $0.04 per diluted share, for the third quarter of 2011 compared to net loss of $27.9 million, or $0.24 per diluted share, for the third quarter of 2010.

For the nine months ended September 30, 2011, the Company reported revenue, net loss and loss per diluted share of $270.1 million, $56.6 million and $0.50, respectively, as compared to revenue, net loss and loss per diluted share of $418.1 million, $47.8 million and $0.42, respectively, for the nine months ended September 30, 2010.

During the third quarter of 2011, the Company sold its entire interest in its two Malaysian operating entities to Puncak Oil and Gas Sdn. Bhd. for a combined consideration of $59.0 million resulting in an after tax gain of $47.8 million, or $0.42 per diluted share.

Project awards for the third quarter of 2011 were $127.8 million resulting in a backlog at September 30, 2011 of $228.2 million.

On September 11, 2011, the Company, Technip S.A. (“Technip”), and Apollon Merger Sub B, Inc., a wholly-owned subsidiary of Technip, (“Apollon”) entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which Apollon will merge with and into the Company (the “Merger”) with Global surviving the Merger as a wholly-owned subsidiary of Technip. Upon consummation of the Merger, the shares of Global Industries, Ltd. will no longer be traded. As a result of the pending merger with Technip, the Company will not hold a quarterly conference call.

Global Industries, Ltd. is a leading offshore solutions provider of offshore construction, engineering, project management, and support services including pipeline construction, platform installation and removal, deepwater/SURF installations, IRM, and diving to the oil and gas industry worldwide. The Company’s shares are traded on The NASDAQ Global Select Market under the symbol “GLBL.”

This press release may contain forward-looking information based on current information and expectations of the Company that involve a number of risks, uncertainties, and assumptions. Among the factors that could cause the actual results to differ materially are: industry conditions, prices of crude oil and natural gas, the Company’s ability to obtain and the timing of new projects, changes in competitive factors, and other factors described in the Company’s most recent annual and quarterly reports, including our Annual Report on Form 10-K. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual outcomes could vary materially from those indicated.

Set forth are our Company’s results of operations for the periods indicated.

(In thousands, except per share amounts)
(Unaudited)

		Three Months Ended								Nine Months Ended
		September 30								September 30
		2011				2010				2011				2010
Revenues		$	67,148			$	189,501			$	270,069			$	418,080
Cost of operations			89,926				179,707				320,962				405,352
Gross profit (loss)			(22,778	)			9,794				(50,893	)			12,728
Goodwill impairment			—				37,388				—				37,388
Loss (gain) on asset disposals and impairments			(28	)			(23,271	)			(7,053	)			(12,483	)
Relocation costs			—				838				—				838
Selling, general and administrative expenses			18,544				16,633				52,377				51,572
Equity in (earnings) of unconsolidated affiliate			(3,158	)			—				(3,158	)			—
Operating income (loss)			(38,136	)			(21,794	)			(93,059	)			(64,587	)
Interest income			44				516				1,253				1,249
Interest expense			(1,989	)			(2,649	)			(6,972	)			(7,308	)
Gain on sale of investment in subsidiaries			47,848				—				47,848				—
Other income (expense), net			(1,804	)			1,275				(775	)			269
Income (loss) before taxes			5,963				(22,652	)			(51,705	)			(70,377	)
Income tax expense (benefits)			1,491				5,067				4,227				(22,706	)
Net income (loss)			4,472				(27,719	)			(55,932	)			(47,671	)
Less: Net income attributable to noncontrolling interest			—				139				714				139
Net income (loss) attributable to Global Industries, Ltd.		$	4,472			$	(27,858	)		$	(56,646	)		$	(47,810	)
Earnings (Loss) Per Common Share
Basic		$	0.04			$	(0.24	)		$	(0.50	)		$	(0.42	)
Diluted		$	0.04			$	(0.24	)		$	(0.50	)		$	(0.42	)
Weighted Average Common Shares Outstanding
Basic			114,334				113,959				114,267				113,721
Diluted			114,363				113,959				114,267				113,721
Other Data
Depreciation and Amortization		$	10,533			$	14,173			$	33,417				42,127
Backlog at end of period		$	228,194			$	274,538			$	228,194			$	274,538

In 2010, we began transitioning the operations of our company from a regional structure to a more centralized structure that focuses on global opportunities for our vessels. As a result, effective January 1, 2011, we have restructured our reporting segments from geographic regions to two new project segments: Construction and Installation and Other Offshore Services. This change has been reflected as a retrospective change to the financial information for the three months and nine months ended September 30, 2010 presented below. This change did not affect our consolidated results of operations or tax reporting.

Set forth are our Company’s results of operations by reportable segment for the periods indicated.

RESULTS OF OPERATIONS BY REPORTABLE SEGMENT
(In thousands)
(Unaudited)

		Three Months Ended								Nine Months Ended
		September 30								September 30
		2011				2010				2011				2010
		(In thousands)
Total segment revenues
Construction and Installation		$	37,301			$	144,390			$	198,442			$	297,455
Other Offshore Services			29,847				45,111				71,627				120,625
Consolidated revenues		$	67,148			$	189,501			$	270,069			$	418,080
Income (loss) before taxes
Construction and Installation		$	13,808			$	(38,185	)		$	(18,198	)		$	(61,343	)
Other Offshore Services			1,734				21,848				(10,922	)			13,581
Corporate			(9,579	)			(6,315	)			(22,585	)			(22,615	)
Consolidated income (loss) before taxes		$	5,963			$	(22,652	)		$	(51,705	)		$	(70,377	)

CONSOLIDATED BALANCE SHEETS
(In thousands)

		September 30				December 31
		2011				2010
		(unaudited)
ASSETS
Current Assets
Cash and cash equivalents		$	168,472			$	349,609
Restricted cash			16,488				4,297
Marketable securities			29,830				—
Accounts receivable — net of allowance of $1,247 for 2011 and $2,767 for 2010			40,696				40,693
Unbilled work on uncompleted contracts			44,452				56,152
Contract costs incurred not yet recognized			20,072				15,052
Deferred income taxes			3,565				4,610
Assets held for sale			1,510				16,719
Prepaid expenses and other			41,730				34,099
Total current assets			366,815				521,231
Property and Equipment, net			825,537				784,719
Other Assets
Marketable securities — long-term			1,535				—
Accounts receivable — long-term			8,687				8,679
Deferred charges, net			21,248				20,429
Other			17,704				8,683
Total other assets			49,174				37,791
Total		$	1,241,526			$	1,343,741
LIABILITIES AND EQUITY
Current Liabilities
Current maturities of long term debt		$	3,960			$	3,960
Accounts payable			75,568				109,394
Employee-related liabilities			15,882				17,935
Income taxes payable			20,220				26,618
Accrued anticipated contract loss			4,315				5,782
Other accrued liabilities			17,911				31,721
Total current liabilities			137,856				195,410
Long-Term Debt			302,651				299,405
Deferred Income Taxes			54,660				49,995
Other Liabilities			19,943				18,242
Commitments and Contingencies			—				—
Equity
Common stock, $0.01 par value, 250,000 shares authorized, and 115,759 and 115,504 shares issued at September 30, 2011 and December 31, 2010, respectively			1,158				1,155
Additional paid-in capital			417,322				414,895
Retained earnings			316,122				372,768
Accumulated other comprehensive loss			(8,186	)			(8,770	)
Shareholders’ equity—Global Industries, Ltd.			726,416				780,048
Noncontrolling interest			—				641
Total equity			726,416				780,689
Total		$	1,241,526			$	1,343,741

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