Exhibit 99.2

      Gulf Island Fabrication, Inc. Announces New President
                   for Gulf Marine Fabricators

    HOUMA, La.--(BUSINESS WIRE)--Aug. 8, 2007--Gulf Island
Fabrication, Inc. (NASDAQ: GIFI) today announced that Johannes Ikdal
has been elected by the Board of Directors of Gulf Island Fabrication,
Inc. as the President of G. M. Fabricators, L. P. d/b/a Gulf Marine
Fabricators, the Company's South Texas facility. Mr. Ikdal has over 30
years of worldwide marine fabrication and related construction
experience.

    Mr. Ikdal has been with Gulf Marine at this South Texas facility
for over 12 years in various managerial capacities. Prior to his
election as President of Gulf Marine, Mr. Ikdal was Operations Manager
responsible for the supervision of all construction projects.

    Gulf Island Fabrication, Inc., based in Houma, Louisiana, is a
leading fabricator of offshore drilling and production platforms, hull
and/or deck sections of floating production platforms and other
specialized structures used in the development and production of
offshore oil and gas reserves. These structures include jackets and
deck sections of fixed production platforms, hull and/or deck sections
of floating production platforms (such as tension leg platforms
("TLPs")), "SPARs, FPSOs", piles, wellhead protectors, subsea
templates and various production, compressor and utility modules,
offshore living quarters, tanks and barges. The Company also provides
offshore interconnect pipe hook-up, inshore marine construction,
manufacture and repair of pressure vessels, heavy lifts such as ship
integration and TLP module integration, loading and offloading of
jack-up drilling rigs, semi-submersible drilling rigs, TLP's, SPARs,
or other similar cargo, onshore and offshore scaffolding, piping
insulation services, and steel warehousing and sales.

    CONTACT: Gulf Island Fabrication, Inc.
             Kerry J. Chauvin, 985-872-2100
             Chief Executive Officer
             or
             Joseph "Duke" Gallagher, 985-872-2100
             Chief Financial Officer