Deep Down has been awarded a contract in excess of $600,000 to provide Steel Tube Flying Lead (SFL) installation equipment to a European Installation Contractor for a project scheduled for late 2009 or early 2010 off the coast of Ghana, West Africa. This award comes on the heels of the previous Deep Down award for 39 Steel Tube Flying Leads (SFL) from the Operator of the same project announced on May 4, 2009.
Deep Down will provide design support, engineering, and manufacturing of the Horizontal Drive Unit (HDU), Hydraulic Power Unit (HPU) and 20 patent pending Rapid Deployment Cartridges (RDC). Deep Down's Channelview, Texas facility, which is manufacturing the Steel Tube Flying Leads, will also be utilized for this installation work; including the spooling of the Steel Tube Flying Leads onto the Rapid Deployment Cartridges as they are coming off the production line and prepared for shipment.
"Deep Down is first and foremost a subsea solution provider. Our equipment, services, and manufacturing capabilities, coupled with over 12 years of subsea project experience, specifically as Deep Down, Inc., are critical ingredients that allow us to be involved on many levels of the offshore contracts. It is not uncommon for Deep Down to work for the Operator, Installation Contractor and in some cases, the Engineering firms under one project," commented Ronald E. Smith, Deep Down's President and Chief Executive Officer.
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