For those of you who missed friday's PR I will repost it.
Doug
Deep Down Completes Unique Installation Project
HOUSTON, Dec. 21 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC
Bulletin Board: DPDW) developed a unique installation and recovery
procedure for a major operator in the Gulf of Mexico that allowed a new
subsea well to be brought online nearly a year earlier than would have
otherwise been possible due to long lead times in the delivery of
umbilicals and flexible flowlines. The operator contacted Saipem to recover
a decommissioned flexible flowline Jumper and use an existing umbilical to
control a new well with minimal hardware and installation costs. Saipem
contracted Deep Down to develop and manage the installation and recovery
procedures in approximately 2,750 feet of water, using its innovative
techniques and support services, and to deploy its ancillary equipment and
personnel to augment Saipem's ROV construction vessel capabilities. This
work had to be performed at very fast pace.
Ron Smith, Deep Down's President & CEO developed and supervised the
installation and recovery procedures. Deep Down used its specialized,
modular, compact HDU (Horizontal drive unit), mini carousel and 5 ton
tensioner to recover a 4" Wellstream flexible flowline jumper with Oilstate
connectors on both ends. The flowline was shipped onshore to be cut in
half. Each end was terminated with a flanged interface and successfully
hydrotested.
A 2,910 foot long composite jumper, conceived by the operator, was
created at Deep Down by placing the flexible flowline jumpers on each end
of a 1800 foot length of spooled 4" coiled tubing. Flanges were welded on
and then x-rayed. Thermoplastic bend limiters were added to the end of the
flexible to coiled tubing interface along with the original bend limiters
that were on the oilstates end of the jumper. Deep Down filled and tested
the composite well jumper and then dewatered it with Nitrogen.
A special 30-ton, 4-track tensioner was used to successfully install
and connect the composite jumper on both ends in approximately 24 hours.
The purpose of the jumper was to extend an existing flowline to the new
well. The installation tension was 15 tons. After the jumper was installed,
the empty Deep Down carousel was used to recover the SUTA (Subsea Umbilical
Termination Assembly) and 2.5 miles of umbilical towards the platform and
immediately re-laid towards the new well.
"In order to provide the innovative services required by operators in
deep water, we have to work as a cohesive unit with other suppliers in the
pursuit of common goals. This project highlighted the effectiveness of our
ability to work jointly with Saipem to deliver solutions to challenging
issues that were being faced by the operator. Cooperation between Deep
Down's specialized deepwater installation crews and Saipem's specialized
service technicians, enabled us to safely accomplish these tasks in an
expedited fashion. As a result, we were able to work in the harshest time
of the year within very small weather windows to recover a jumper, install
a new 2,900 foot long 4" composite well jumper, and recover several miles
of umbilical, relaying it to a completely different location in three days.
I enjoy working with these specialized teams to provide innovative
services. Total customer satisfaction, as evidenced by the smiles on the
faces of our clients when the projects are successfully completed, is
everything for us," commented Ronald E. Smith.
Deep Down has in its possession a Baricon 30-ton, 4-track tensioner
which is available for use in the Gulf of Mexico. Deep Down is presently
booking commitments for its use.
About Deep Down, Inc.
Deep Down specializes in the provision of innovative solutions,
installation management, engineering services, support services, custom
fabrication and storage management services for the offshore subsea
control, umbilical, and pipeline industries. The company fabricates
component parts of subsea distribution systems and assemblies that
specialize in the development of subsea fields and tie backs. These items
include umbilicals, flow lines, distribution systems, pipeline
terminations, controls, winches, and launch and retrieval systems, among
others. Deep Down provides these services from the initial field conception
phase, through manufacturing, site integration testing, installation,
topside connections, and the final commissioning of a project. The
Company's ElectroWave subsidiary offers products and services in the fields
of electronic monitoring and control systems for the energy, military, and
commercial business sectors. ElectroWave designs, manufactures, installs,
and commissions integrated PLC and SCADA based instrumentation and control
systems, including ballast control and monitoring, drilling
instrumentation, vessel management systems, marine advisory systems,
machinery plant control and monitoring systems, and closed circuit
television systems. The Company's Mako Technologies subsidiary serves the
growing offshore petroleum and marine industries with technical support
services, and products vital to offshore petroleum production, through
rentals of its remotely operated vehicles (ROV), topside and subsea
equipment, and diving support systems used in diving operations,
maintenance and repair operations, offshore construction, and
environmental/marine surveys
The Company's strategy is to consolidate service providers to the
offshore industry, as well as designers and manufacturers of subsea,
surface, and offshore rig equipment used by major, independent, and foreign
national oil and gas companies in deep-water exploration and production of
oil and gas throughout the world. Deep Down's customers include BP
Petroleum, Royal Dutch Shell, Exxon Mobil Corporation, Devon Energy
Corporation, Chevron Corporation, Anadarko Petroleum Corporation, Marathon
Oil Corporation, Kerr-McGee Corporation, Nexen Inc., BHP, Amerada Hess,
Helix, Oceaneering International, Inc., Subsea 7, Inc., Transocean
Offshore, Diamond Offshore, Marinette Marine Corporation, Acergy, Veolia
Environmental Services, Noble Energy Inc., Aker Kvaerner, Cameron, Oil
States, Dril-Quip, Inc., Nexans, Cabett, JDR, and Duco, among others. For
further company information, please visit http://www.deepdowninc.com and
http://www.electrowaveusa.com
One of our most important responsibilities is to communicate with
shareholders in an open and direct manner. Comments are based on current
management expectations, and are considered "forward-looking statements,"
generally preceded by words such as "plans," "expects," "believes,"
"anticipates," or "intends." We cannot promise future returns. Our
statements reflect our best judgment at the time they are issued, and we
disclaim any obligation to update or alter forward-looking statements as
the result of new information or future events. Deep Down urges investors
to review the risks and uncertainties contained within its filings with the
Securities and Exchange Commission.
SOURCE Deep Down, Inc.
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