HOUSTON, Nov. 28, 2017, DPDW /PRNewswire/ — Deep Down, Inc. (OTCQX: DPDW) (“Deep Down”), an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services, announced today that it has received orders for subsea equipment valued at over $4 million directly from two West African operators, one of whom is a new customer.
The orders include a full suite of Deep Down’s own Multi-Quick Connect (MQC) plates, some of which will be free-issued by the customer to other equipment manufacturers. All of the equipment is scheduled to be delivered in the first half of 2018, for deployment off the west coast of Africa.
Ron Smith, Chief Executive Officer of Deep Down, Inc. stated, “We are humbled by the trust our existing and new customers continue to place in us, especially during these tough economic times. Being able to expand our product offerings by providing our own MQC plates, is a testament of the confidence our customers have in our ability to strategically partner with them, as they seek to maximize the value of their investments.”