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Deep Down Awarded More Flying Leads

Source: www.gulfoilandgas.com 7/20/2012, Location: Africa

Deep Down, Inc. (DPDWD), an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services announced they have received multiple contracts from an international operator and a major international controls manufacturer for the manufacture of flying leads and associated services worth in excess of $2.3 million; pending finalization of engineering design for one of the projects.

The first contract is for additional flying leads, equipment and services in support of a project located offshore Ghana, West Africa with delivery scheduled in the third quarter 2012. The second contract, which is also scheduled for delivery in the third quarter 2012, is for installation on a project in the U.S. Gulf of Mexico. The third contract is for a project on the Northwest coast of Australia, with delivery scheduled the first quarter 2013. The latter is a first-of-its-kind deployment with five electrical quads which integrate into the loose steel-tube flying lead (LSFL) bundle with end terminations serving as mini umbilical termination assemblies (UTAs). This configuration was chosen for its superior handling characteristics, as well as installation efficiency; a key advantage is that installation can be achieved with a single ROV assisted lay down instead of multiple lay downs.

Ron Smith, Chief Executive Officer of Deep Down, Inc. stated, "These awards reaffirm the efforts Deep Down has put into our flying leads to provide our customers with quality, affordability and most importantly, a more efficient and safer installation solution."

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