Deep Down, Inc., an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services, has been awarded several contracts for deepwater work in the Gulf of Mexico from “major operators”.
The work will be completed over the next 12 months and includes a combination of engineering and fabrication of different SSIV systems, supply of Deep Down’s patented NHU umbilical, and variety of installation services and equipment. According to the company, the orders received are worth $4.8 million.
Ron Smith, Chief Executive Officer of Deep Down, Inc. stated, “These awards from different operators, serve as a vote of confidence in our ability to support our clients during these times of falling oil prices. We are also pleased at the growing interest in our modified process for producing NHU umbilicals at a fraction of the cost.”