|Deep Down Receives $1.7 Million Equipment and Services Order|
HOUSTON, Feb. 08, 2022 (GLOBE NEWSWIRE) -- Deep Down, Inc. (OTCQB: DPDW) ("Deep Down"), a specialist in subsea energy equipment and services, today announced the receipt of an order for installation equipment and services valued at more than $1.7 million. All activities are currently scheduled to be complete by the end of 2022.
The project includes the installation of Deep Down built equipment whose final destination is the Gulf of Mexico, with part of the scope being performed in collaboration with other contractors at an overseas facility.
"This award highlights the continued confidence our customers place in our team's ability to provide integrated solutions that span the design, engineering, manufacturing and installation of subsea production equipment," said Charles Njuguna, president and CEO of Deep Down, Inc. "With the easing of travel restrictions across the globe, we maintain the ability to deploy our highly experienced teams anywhere in the world in support of our customers' projects," he added.
About Deep Down, Inc. (www.deepdowninc.com)
Forward-Looking Statements Any forward-looking statements in the preceding paragraphs of this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties in that actual results may differ materially from those projected in the forward-looking statements. In the course of operations, we are subject to certain risk factors, competition and competitive pressures, sensitivity to general economic and industrial conditions, international political and economic risks, availability and price of raw materials and execution of business strategy. For further information, please refer to the Company's filings with the Securities and Exchange Commission, copies of which are available from the Company without charge.