HOUSTON‚ TX — March 18‚ 2011 – Deep Down‚ Inc. (OTCBB: DPDW) ("Deep Down")‚ an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services, announces its scalable 1,000-5,000 MT Carousel System (the "Carousel"), one of which is nearing completion and will soon be delivered to Core Industries ("CORE") deepwater port facility near Mobile, Alabama. This particular Carousel is rated for 3,400 MT and is designed to be volume limited where if a product can fit, it will be within the 3,400 MT maximum payload.
At CORE's deepwater port in Alabama, Deep Down can provide customers with umbilical storage on its Carousel and vertical reels which in turn provides substantial savings to the customer when mobilizing for an offshore job. The customer will be able to spool or carry umbilicals to the installation vessel while simultaneously loading out the vessel with the remaining requirements. Deep Down will also be able to perform full scale Systems Integration Testing ("SIT") and have installation equipment on site that supports the Carousel available to rent to installation contractors for immediate mobilization. We also have the equipment onsite and the experience to test, flush clean, monitor, and even commission umbilicals by exchanging with the desired deliverable fluids before heading offshore.
The Carousel's flexible foundation has simple requirements for on and offshore use. Being scalable in increments of 500 MT and holding up to 5,000 MT the Carousel design is quite versatile and nearly limitless to the size of your project, dock, or installation vessel.
More interest is pouring in from other companies as we work to further expand the capabilities of the Carousel System design for future orders.
About Deep Down, Inc.
Deep Down, Inc. is an oilfield services company serving the worldwide offshore exploration and production industry. Deep Down's proven services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, distributed and drill riser buoyancy, ROVs and tooling, marine vessel automation, control, and ballast systems. Deep Down supports subsea engineering, installation, commissioning, and maintenance projects through specialized, highly experienced service teams and engineered technological solutions. The company's primary focus is on more complex deepwater and ultra-deepwater oil production distribution system support services and technologies, used between the platform and the wellhead. More information about Deep Down is available at www.deepdowncorp.com.
For Further Information
Investor Relations
ir@deepdowninc.com
(281) 517-5000
|