Deep Down Inc. announced it has entered into a distributor agreement with Hach Ultra for its highly advanced GlyCount(TM) liquid particle counter and Portable Oil Diagnostic System (PODS). The portable GlyCount(TM) liquid particle counter analyzes glycol fluids and coolants in bottle sampling and on-line modes. The new instrument provides rapid test results that are consistent with conventional laboratory microscope or liquid particle counter analyses. Accurate particle counting results are delivered in significantly less time than is required under traditional analysis practices. Instead of taking up to 30 minutes to take one reading of a sample, this instrumentation will allow a user to take three readings of a sample in as little as 10 seconds. This portable instrument delivers cleanliness results at the point-of-use under actual operating conditions, further reducing manpower and analysis time. Just as the GlyCount(TM) system is used in glycol oil-based fluid testing, Hach Ultra´s portable PODS oil testing system is used to test hydraulic fluids, providing rapid and accurate test results, under NAS and ISO standards, for oil based fluids.

Deep Down Inc. announced that it has shipped the second of what is believed to be the deepest class rated Launch and Retrieval System (LARS) in the world. The 4,000 meter rated LARS was specially designed for subsea load handling, lifting and tensioning, and launch and retrieval of specialized undersea equipment, including Remote Operated Vehicles (ROV), in ultra-deep and harsh subsea environments. Special functions include auto-variable speed control (load dependent), wire spooling and guide systems, grooved drums, emergency release capabilities, gravity lowering, emergency hoisting abilities, and a water-cooled drum to reduce heat on the umbilical. The safe working load of the LARS is 28 tonnes, and the system is capable of delivering payloads at speeds of up to 76 meters per minute. Another unique feature of this LARS is the specially designed wraparound level wind sensor system which allows for more sensitive yet smoother operation in rugged, high-load, ultra-high deepwater applications.

Deep Down Inc. announced that it has shipped $1.5 million worth of products for the Phoenix project, including six next generation Loose-tube Steel Flying Leads (LSFLs). Additional revenue will be generated through installation support at a later date. Several of these LSFLs contain fifteen (one-half inch) Super Duplex steel tubes. The LSFLs were delivered to the customer and incorporated into a successful Systems Integration Test program. The company also delivered four Electrical Hydraulic Compliant Moray(TM) Umbilical Termination Heads, which were terminated to the end of steel tube umbilicals. The use of Electrical Hydraulic Compliant Moray Umbilical Termination Heads allows full sized umbilicals to be plugged directly into subsea trees by a remote operated vehicle, thus eliminating the need for large Umbilical Termination Assemblies (UTA). The unique Umbilical Termination Head design translates into additional cost savings and is ideal for single well tie-backs or long extension umbilicals. The company will deliver the LSFLs on its proprietary Subsea Deployment Baskets (SDB). The installation contractor is considering installing the LSFLs with Deep Down´s recently introduced subsea deployment method because of its effectiveness in reducing installation time. The use of SDBs also reduces the risk for safety incidents by reducing the amount of personnel time needed to deploy LSFLs over a lay chute versus the seconds it takes to overboard a SDB into the water.