Exhibit 10.41
 AMENDMENT NO. 7 AND WAIVER TO  THIRD AMENDED AND RESTATED CREDIT AGREEMENT
 Amendment Effective
Date Parent Mexican
Borrower Cayman Borrower Borrower Borrowers Administrative
Agent
 PRELIMINARY STATEMENTS
 Lenders Credit Agreement
   ARTICLE I  DEFINITIONS
 1.01
 ARTICLE II  AMENDMENT




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2.01 Amendment to Section 1.01 (Restated Definitions) Section 1.01
  LEVEL I
    
    
    LEVEL II
    
    
    LEVEL IIIEurodollar
Advances and Letter of Credit Fee
    
    
    2.000
    %
    
    
    2.750
    %
    
    
    3.500
    %Base Rate Advances
    
    
    1.500
    %
    
    
    2.250
    %
    
    
    3.000
    %Revolving Commitment Fee
    
    
    0.500
    %
    
    
    0.750
    %
    
    
    1.000
    %
     plus
 Section 6.02 plus
  2




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minus
   minus
  2.02 Amendment to Section 1.01 (New Definitions) Section 1.01
 Section 5.05 Sections 6.13 6.14 6.15
 3




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Section 5.05 Sections 6.13 6.14 6.15
  2.03 Amendment to Section 1.01 (Deleted Definitions) Section 1.01
 2.04 Amendment to Section 2.01(f) Section 2.01(f)
 Limitation on Advances Section 2.01(a) (d) Section 5.05 provided Section
2.02(b) (f)
 2.05 Amendment to Section 2.15(e) Section 2.15(e)
  2.06 Amendment to Section 2.15(g)(ii) Section 2.15(g)(ii)
  4




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Section 7.06
 2.07 Amendment to Section 2.15(g)(iii)
  2.08 Amendment to Section 2.15(h) Section 2.15(h)
 Determination of Dollar Amounts
 2.09 Amendment to Section 3.02(c) Section 3.02(c)
  5




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2.10 Amendment to Section 5.05(f) Section 5.05(f)
 2.11 Amendment to Section 6.03 Section 6.03
  2.12 Amendment to Section 6.07 Section 6.07
 2.13 Amendment to Section 6.13 Section 6.13
 Leverage Ratio Section 2.15(g)
 2.14 Amendment to Section 6.14 Section 6.14
 Minimum Net Worth Section
2.15(g)
 2.15 Amendment to Section 6.15 Section 6.15
 Minimum Fixed Charge Coverage Ratio
 6




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Section 2.15(g)
 2.16 Amendment to Section 6.16 Section 6.16
 Intentionally Omitted
 ARTICLE III  WAIVER
 Section 6.13 Section
6.15 Financial Covenant Compliance Article III Sections 6.13 6.15
 ARTICLE IV  CONDITIONS PRECEDENT
 4.01 Conditions to Effectiveness
 Documentation
   7




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Deposit of Cash Collateral
 Payment of Fees Section 11.04
 ARTICLE V  NO WAIVER
  ARTICLE VI  RATIFICATIONS, REPRESENTATIONS AND WARRANTIES
 6.01 Ratifications
 6.02 Representations and Warranties
 8




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ARTICLE VII  MISCELLANEOUS PROVISIONS
 7.01 Survival of Representations and Warranties
 7.02 Reference to Credit Agreement
 7.03 Expenses of the Administrative Agent
 7.04 Severability
 7.05 Successors and Assigns
 7.06 Counterparts
 7.07 Effect of Waiver
 9




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7.08 Headings
 7.09 Applicable Law
  10




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PARENT:
GLOBAL INDUSTRIES, LTD.By:
    /s/ C. Andrew SmithName:
    C. Andrew SmithTitle:
    CFOMEXICAN BORROWER:
GLOBAL OFFSHORE MEXICO, S. DE R.L. DE C.VBy:
    /s/ Russell RobicheauxName:
    Russell RobicheauxTitle:
    Power of AttorneyCAYMAN BORROWER:
GLOBAL INDUSTRIES INTERNATIONAL, L.P.By:
    Global Industries International, L.L.C., its general partnerBy:
    /s/ C. Andrew SmithName:
    C. Andrew SmithTitle:
    CFO




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CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK (formerly known as Calyon New
York Branch), as Administrative Agent, Issuing Bank, Swingline Bank and as a
LenderBy:
    /s/ Page DillehuntName:
    Page DillehuntTitle:
    Managing DirectorBy:
    /s/ Michael D. WillisName:
    Michael D. WillisTitle:
    Managing Director




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LENDERS:
WHITNEY NATIONAL BANKBy:
    /s/ Mark S. McCulloughName:
    Mark S. McCulloughTitle:
    Vice President




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NATIXIS (formerly known as Natexis Banques Populaires)By:Name:Title:By:Name:Title:




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BNP PARIBASBy:
    /s/ Guillaume DeveName:
    Guillaume DeveTitle:
    Managing DirectorBy:
    /s/ Sriram ChandrasekaranName:
    Sriram ChandrasekaranTitle:
    Vice President




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US Guarantor US
Guarantors
 GLOBAL INDUSTRIES, LTD.By:
    /s/ C. Andrew SmithName:
    C. Andrew SmithTitle:
    CFOGIL HOLDINGS, L.L.C.
GLBL HOLDINGS, L.L.C.
GLOBAL DIVERS AND CONTRACTORS, L.L.C.
GLOBAL INDUSTRIES INTERNATIONAL, L.L.C.
GLOBAL INDUSTRIES OFFSHORE, L.L.C.
GLOBAL PIPELINES PLUS, L.L.C.
GLOBAL MOVIBLE OFFSHORE, L.L.C.
NORMAN OFFSHORE PIPELINES, L.L.C.
PIPELINES, L.L.C.
SUBTEC MIDDLE EAST LIMITEDBy:
    /s/ C. Andrew SmithName:
    C. Andrew  SmithTitle:
    CFO




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Foreign Guarantor Foreign
Guarantors
 GLOBAL INDUSTRIES INTERNATIONAL, L.P.By:
    Global Industries International, L.L.C., its general partnerBy:
    /s/ C. Andrew SmithName:
    C. Andrew SmithTitle:
    CFOGLOBAL OFFSHORE MEXICO, S. DE R.L. DE C.V.By:
    /s/ Russell RobicheauxName:
    Russell RobicheauxTitle:
    Power of AttorneyGLOBAL INTERNATIONAL VESSELS, LTD.
GLOBAL OFFSHORE INTERNATIONAL, LTD.By:
    /s/ C. Andrew SmithName:
    C. Andrew SmithTitle:
    CFO




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GLOBAL INDUSTRIES OFFSHORE NETHERLANDS, BVBy:
    /s/ C. Andrew SmithName:
    C. Andrew SmithTitle:
    CFOBy:Name:Title:GIL MAURITIUS HOLDINGS, LTD.By:
    /s/ C. Andrew SmithName:
    C. Andrew SmithTitle:
    CFOGLOBAL INDUSTRIES MEXICO HOLDINGS, S. DE R.L. DE C.V.
GLOBAL VESSELS MEXICO, S. DE R.L. DE C.V.
GLOBAL INDUSTRIES OFFSHORE SERVICES, S. DE R.L. DE C.V.
GLOBAL INDUSTRIES SERVICES, S. DE R.L. DE C.V.By:
    /s/ Russell RobicheauxName:
    Russell RobicheauxTitle:
    Power of Attorney