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Friday, December 21, 2007 10:55:23 PM
Deep Down Completes Unique Installation Project
Friday December 21, 6:12 pm ET
HOUSTON, Dec. 21 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) 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.
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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.
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Source: Deep Down, Inc.
Friday December 21, 6:12 pm ET
HOUSTON, Dec. 21 /PRNewswire-FirstCall/ -- Deep Down, Inc. (OTC Bulletin Board: DPDW - News) 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.
ADVERTISEMENT
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.
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Source: Deep Down, Inc.
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