Deep Down Expands Presence in Brazil

Deep Down announced the engagement of Marcelo Lardosa as Business Development Officer. Mr. Lardosa will be located in Rio de Janeiro, Brazil. Mr. Lardosa will work closely with senior management to develop, implement and monitor new business strategies and relationships in Brazil. He will be solely focused on raising our level of involvement to support offshore production and development activities in Brazil. Mr. Lardosa is also expected to focus on Brazilian acquisition and expansion opportunities.

"Deep Down is currently providing buoyancy for the newbuild Delba III semisubmersible rig to be deployed offshore Brazil. We are committed to increasing our market share of Deep Down offshore products and services in Brazil. Our relationship with Mr. Lardosa will help us to capitalize on opportunities as they emerge and further enhance important strategic relationships," commented Ronald E. Smith, Deep Down's president and chief executive officer. "Mr. Lardosa (with a Masters degrees in both Mechanical Engineering and Business Administration) brings years of experience in the offshore oil and gas industry. He has significant relationships with contractors and producers through his service with British Petroleum PLC and Marine Production Systems do Brasil, a subsidiary of Oceaneering International Inc. He is well respected in the industry, and well positioned to represent all of our product and service capabilities in buoyancy, ROV activities, umbilicals, steel flying leads, installations, commissioning, and testing. He has extensive experience in umbilicals and flowlines, where he has been involved in umbilical manufacturing, installation, testing and commissioning. I am truly excited to have Mr. Lardosa join our growing team here at Deep Down."
 

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