Deep Down wins over $4 million in subsea equipment orders
- Business & Finance
U.S. oilfield services company Deep Down has won orders totaling over $4 million for the installation of subsea equipment.
Deep Down said on Wednesday that the orders were from two new customers in South America.
The orders are for the planning, installation, and commissioning of an umbilical and a flexible flow line, equipment that enables the transmission of controls, fiber optic communications, electricity and hydraulic and other fluids between surface installations and the clients’ subsea equipment.
The projects include the engineering, procurement, and construction of associated tie-in equipment and the rental of Deep Down installation equipment.
According to the company, deployment is planned for the second and third quarters of 2018 in the Caribbean and South Pacific Ocean.
Ron Smith, Deep Down CEO, said: “We believe the large size of these initial contracts is a testament to our growing reputation as a high quality, expert provider of cost-effective deepwater service and equipment solutions.
“We continue to actively pursue new business opportunities with new and existing customers and are encouraged by the increasing pace of offshore development discussions and planning.”
The last time Offshore Energy Today reported on Deep Down winning orders for subsea equipment was in late November 2017. The $4 million order for subsea equipment was won from two unnamed West African operators.