Deep Down lands Gulf of Mexico contracts

Deep Down Inc. has received orders for flying leads and umbilical accessories from two operators, valued at more than $3 million.

Jul 28th, 2016

Offshore staff

HOUSTONDeep Down Inc. has received orders for flying leads and umbilical accessories from two operators, valued at more than $3 million.

The equipment is scheduled to be delivered and deployed in theGulf of Mexico in 1H 2017.

Ron Smith, CEO of Deep Down Inc., stated: “These awards represent a major milestone for the company. We have previously provided similar equipment for the same operators through original equipment manufacturers, but this is an example of the opportunities available due to the low oil prices, where the operators are realizing significant savings by coming directly to us.”

In March, Deep Down announced an order from Shell for an umbilical and distribution system to support a production platform mooring line control system.

07/28/2016

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