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Last updated on April 20, 2014 at 13:20 EDT

Deep Down Expands Presence in Brazil

July 1, 2009

HOUSTON, July 1 /PRNewswire-FirstCall/ — Deep Down, Inc. (OTC Bulletin Board: DPDW), a global leader in offshore deepwater products and services for the oil and gas industry, today announced the engagement of Marcelo Lardosa as Business Development Officer. Mr. Lardosa will be located in Rio de Janeiro, Brazil. Mr. Lardosa will work closely with senior management to develop, implement and monitor new business strategies and relationships in Brazil. He will be solely focused on raising our level of involvement to support offshore production and development activities in Brazil. Mr. Lardosa is also expected to focus on Brazilian acquisition and expansion opportunities.

“Deep Down is currently providing buoyancy for the new build Delba III semi-submersible rig to be deployed offshore Brazil. We are committed to increasing our market share of Deep Down offshore products and services in Brazil. Our relationship with Mr. Lardosa will help us to capitalize on opportunities as they emerge and further enhance important strategic relationships,” commented Ronald E. Smith, Deep Down’s president and chief executive officer. “Mr. Lardosa (with a Masters degrees in both Mechanical Engineering and Business Administration) brings years of experience in the offshore oil and gas industry. He has significant relationships with contractors and producers through his service with British Petroleum PLC and Marine Production Systems do Brasil, a subsidiary of Oceaneering International Inc. He is well respected in the industry, and well positioned to represent all of our product and service capabilities in buoyancy, ROV activities, umbilicals, steel flying leads, installations, commissioning, and testing. He has extensive experience in umbilicals and flowlines, where he has been involved in umbilical manufacturing, installation, testing and commissioning. I am truly excited to have Mr. Lardosa join our growing team here at Deep Down”.

About Deep Down, Inc.

Deep Down, Inc. is an oilfield services company serving the worldwide offshore exploration and production industry. Deep Down’s proven services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, distributed and drill riser buoyancy, ROVs and ROV tooling, as well as marine vessel automation, control, and ballast systems. Deep Down supports subsea engineering, installation, commissioning, and maintenance projects through specialized, highly experienced service teams and engineered technological solutions. The company’s primary focus is on more complex deepwater and ultra-deepwater oil production distribution system support services and technologies, used between the platform and the wellhead. Deep Down provides these services through its four subsidiaries. More information about Deep Down is available at www.deepdowncorp.com, by contacting the company at (281) 517-5000, or ir@deepdowninc.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.

SOURCE Deep Down, Inc.


Source: newswire