Deep Down, a subsea oilfield services company, has secured a large order from an undisclosed client for patented flying leads and UTA (Umbilical Termination Assembly).
According to Houston-based firm, the order is valued at approximately $2.5 million.
The flying leads and UTA will be delivered and deployed in the Gulf of Mexico in the first quarter of 2016.
Ron Smith , Chief Executive Officer of Deep Down, stated: “Despite the current environment of lower oil prices, this order from a new customer reinforces our strategy and ability to work directly for operators.”