Deep Down, Inc., a specialist in subsea oil and gas production control equipment and services, announced that it has received material orders from two customers totaling approximately $2 million.
The scope of work for these orders includes providing subsea controls equipment consisting of jumpers, flying leads and an electrical/hydraulic distribution manifold. All of the equipment is scheduled to be completed before the end of 2020 and installed in the Gulf of Mexico and the Asia Pacific regions.
Charles Njuguna, Deep Down's President and CEO, stated, "Despite the challenges presented by the global coronavirus pandemic and the recent weakness in oil prices, Deep Down remains committed to providing our customers with world-class products and services. We are pleased to have received these orders, and we look forward to continue building our relationships with these valued customers as our industry moves forward."