Deep Down receives orders valued at over US$3 million

Deep Down, Inc., an oilfield services company specialising in deepwater and ultra-deepwater oil production distribution system support services, announced it has received orders for flying leads and umbilical accessories, valued at over US$3 million, directly from two major operators.

The equipment is scheduled to be delivered and deployed in the Gulf of Mexico in the first half of 2017.Ron Smith, Chief Executive Officer 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 realising significant savings by coming directly to us."

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/27072016/deep-down-receives-orders-valued-at-over-us3-million/