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Houston, Texas: Deep Down Receives Multiple Services Contracts

Deep Down, Inc., an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services recently announced they have received multiple contracts from an international operator and a major international controls manufacturer for the manufacture of flying leads and associated services worth in excess of $2.3 million; pending finalization of engineering design for one of the projects.

The first contract is for additional flying leads, equipment and services in support of a project located offshore Ghana, West Africa with delivery scheduled in the third quarter 2012. The second contract, which is also scheduled for delivery in the third quarter 2012, is for installation on a project in the U.S. Gulf of Mexico. The third contract is for a project on the Northwest coast of Australia, with delivery scheduled the first quarter 2013. The latter is a first-of-its-kind deployment with five electrical quads which integrate into the loose steel-tube flying lead (LSFL) bundle with end terminations serving as mini umbilical termination assemblies (UTAs). This configuration was chosen for its superior handling characteristics, as well as installation efficiency; a key advantage is that installation can be achieved with a single ROV assisted lay down instead of multiple lay downs.

Ron Smith, Chief Executive Officer of Deep Down, Inc. stated, “These awards reaffirm the efforts Deep Down has put into our flying leads to provide our customers with quality, affordability and most importantly, a more efficient and safer installation solution.”

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.

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Offshore Drilling: Sneaky Sneaky Administration

Offshore Areas Open for Drilling when President Obama Took Office

Offshore Areas Blocked for Drilling under President Obama’s Final 2012-2017 Plan

By Ashlee Smith on July 13, 2012

The Obama administration is continuing its war on affordable energy for the American public. This time the effects of the administration’s policy decisions will come through the reduction of offshore drilling sites in the 2012-2017 offshore lease plan.  The administration isn’t jumping up and down to bring attention to this issue, probably because there are no positives to be excited about. Further proof of this is the fact the Obama administration released the final plan the day of the Supreme Court’s ObamaCare decision. This distraction diverted most attention away from the drilling plan. Thankfully, the Obama administration doesn’t get the final word in this instance. Offshore drilling plans go through a process of public comment and Congressional review.

The Outer Continental Shelf Lands Act (OCSLA) requires a five-year plan for the production and sale of oil and gas needed to meet American energy needs. The Obama lease plan for the next five years will close 85 percent of the American offshore drilling areas from production. The “new” five-year plan essentially reinstates the 30-year moratorium for offshore energy production. Obama under his “all-the-above” energy plan has been working to restrict offshore drilling access. The uncertainty of the oil and gas drilling industry is causing companies to look to other countries to allow them to do offshore drilling. President Obama is causing unnecessary increases in energy costs and hampering  job creation in various parts of the country, which have millions or even billions of barrels of untouched oil and natural gas. I thought the president said he was going to create jobs and help restore our economy? He has the perfect opportunity to do just that by opening up our Continental Shelf, but he’d rather push unaffordable, unattainable, and unreliable ‘green’ energy companies.

President Obama can’t run from the facts of the situation. His energy policy record is anything but promising for our future. In the last three years of President Obama’s term, offshore lease sale revenue is down over 250 times of what it was prior to him taking office, we went from collecting $9.48 billion to only $36 million in revenue. Even land oil production is down 13 percent from last year.  The new plan Obama is supporting will only exacerbate the problem. The whole Atlantic and Pacific coasts, along with a majority of the Alaskan OCS areas off limits as well. Leases will become shorter, fewer in number, and increasingly costly. Yet Obama continues to stick by his statement that he’s increasing production and reducing oil imports.

Energy Research’s Vice President Dan Kish:

“Millions of Americans are still looking for jobs. The Gulf Coast economy has yet to recover from President Obama’s moratorium on offshore drilling. President Obama has signaled today that he has no regard for our energy future, nor the jobs that a sensible, long-term plan for offshore development would create.”

House Energy Committee Chairman, Fred Upton had this comment to make on the issue:

“While we have seen some respite from rising gasoline prices, Americans are still paying almost double at the pump what they were when President Obama was inaugurated, and we are still just one natural disaster or foreign crisis away from a major supply disruption that could send prices soaring. To stabilize prices, we need a visionary, long-term supply solution. Earlier this month, the House passed a proposal with bipartisan support to remove the president’s barriers to American energy production and job creation. Today’s announcement underscores the urgent need for these commonsense reforms.”

The House Committee on Natural Resources has come up with a replacement plan to Obama administration. This congressional plan would allow for additional oil and natural gas leases, create jobs, encourage offshore energy development, and increase domestic energy production to give America more energy security.

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USA: Deep Down Inc. Receives Subsea Equipment Orders

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Deep Down, Inc. , an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services, today announced it has been awarded multiple contracts for subsea hardware and deployment equipment orders worth in excess of $2.6 million.

Two orders were placed by a major controls OEM and the third order placed by an international installation contractor.

Deep Down, Inc. will be manufacturing Umbilical Termination Assemblies (UTA), Flying Leads, Umbilical Termination Heads (UTH), Rapid Deployment Cartridges, Moray® and Flying Lead Deployment Frames; the majority of the work is scheduled to be completed in the first quarter 2012, with the remainder completed in the beginning of the second quarter 2012. The products and equipment will be used on three international projects in the Far East and Mediterranean and one project in the Gulf of Mexico.

The patent-pending Moray® Termination System contains a light-weight and compact termination head and very flexible steel tube bundle allowing for easy make up of the heads by the ROV on the ocean floor.

Ron Smith, Chief Executive Officer stated, “These awards continue to build upon Deep Down’s expansion into the international oil and gas market. Deep Down continues to gain recognition outside of the Gulf of Mexico as a solution provider. By working with our customers, we are able to provide them with innovative cost effective solutions for their offshore projects.”

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