Deep Down sees up to $2M in new orders

Subsea equipment specialist Deep Down has received an order for the rental of its 3,500 metric ton carousel and associated umbilical spooling services.

The project includes the mounting and sea-fastening of Deep Down’s carousel onto a customer-provided barge, trans-spooling of three umbilicals from an umbilical manufacturer’s facility onto the barge-mounted carousel, transportation of the fully loaded carousel to a secondary spool base, and the subsequent trans-spooling of the umbilicals from the barge-mounted carousel to an installation vessel’s carousel.

The Houston-based company will also engineer and manufacture structures for each of the umbilical terminations to be secured to during the spooling and transit operations.

The value of the contract is said to be between $1.5 and $2 million, and all activities should wrap up by the end of the third quarter of 2021.

“This award solidifies Deep Down’s reputation as a provider of unique solutions, as evidenced by our team’s innovative approach to barge-mounting a carousel,” said Charles Njuguna, president and CEO of Deep Down, Inc. “Being able to place one of our carousels into service in the current market environment provides us with cautious optimism for a gradual improvement in the industry’s prospects,”