Deep Down Receives Riser Isolation Valve System Order for Whale Development
DEEP DOWN INCORP (DPDW)
NASDAQ:AMEX Investor Relations:
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Source: GlobeNewswire
HOUSTON, Feb. 20, 2020 (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 Offshore Inc. for work related to its Whale development in the U.S. Gulf of Mexico. The order includes the design, engineering and manufacturing of a Riser Isolation Valve (RIV) control system as well as other subsea production equipment. The RIV control system will be installed on the floating production unit (FPU) to provide shutdown of production fluids. The Whale FPU will operate in the Gulf of Mexico’s Alaminos Canyon Block 773, pending a positive final investment decision later this year. Charles Njuguna, Deep Down’s President and CEO, stated, “We are pleased that Shell has once again turned to Deep Down to deliver reliable equipment and services for one of their largest exploration finds in the Gulf of Mexico in recent memory.” About Deep Down, In
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