Deep Down Receives Kaikias Riser Isolation Valve System Order
DEEP DOWN INCORP (DPDW)
NASDAQ:AMEX Investor Relations:
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Source: GlobeNewswire
HOUSTON, Aug. 20, 2019 (GLOBE NEWSWIRE) -- Deep Down, Inc. (OTCQB: DPDW) ("Deep Down"), a specialist in complex deep-water oil and gas distribution equipment and services, today announced that it has received an order from Shell for work related to its Kaikias development in the U.S. Gulf of Mexico. The order is for the design, engineering, manufacturing and installation of a Riser Isolation Valve control system on the Ursa tension-leg platform (TLP). The Ursa TLP is located in the Mississippi Canyon Block 810, approximately 130 miles from the coast of Louisiana, in water depth of 4,500 ft. The Riser Isolation Valve control system will be installed on the TLP to provide shutdown of production fluids. Charles Njuguna, CFO, stated, “We continue to be humbled by the trust Shell places in Deep Down, as we work together to continuously improve safety in the oil and gas industry.” About Deep Down, Inc. (www.deepdowninc.com)Deep Down focuses on complex deepwater and ultra-deepwater oil
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