Mako Technologies and AGR Subsea Sign Representation Agreement

Tuesday, Feb 09, 2010

Deep Down Inc announced today that its wholly-owned subsidiary Mako Technologies LLC ("Mako") has signed a representation agreement with AGR Subsea Ltd ("AGR Subsea"), the trenching and excavation subsidiary of AGR Group . Under the agreement, Mako will promote AGR Subsea's well-proven SeaVator(TM) and ClayCutter X(TM) seabed excavation service lines in the US Gulf Coast region, and provide operational support once the projects are under way.

John Sands, AGR Subsea Ltd's Managing Director said, "We are looking forward to improving our profile in the US Gulf coast. This agreement means that we can serve our clients in the region better and we can convert the significant interest in our seabed excavation services into projects. Mako's long experience in the region, good reputation and excellent network means that we can reach all the relevant clients in the trenching, decommissioning and salvage areas and get our message across clearly."

"We are delighted to be working with AGR Subsea Ltd, and look forward to bringing this exciting technology to the US Gulf of Mexico. This agreement complements Mako's products and services and will create new opportunities," commented Jacob Marcell, Mako's President.

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 tooling, 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 subsidiaries. More information about Deep Down is available at www.deepdowncorp.com .

About AGR Subsea Ltd

AGR Subsea Ltd offers a range of seabed intervention solutions for the global energy industry. The SeaVator(TM) Mass Flow Excavation system is widely used for post-pipelay trenching and excavating seabed equipment for maintenance and decommissioning purposes. AGR's ClayCutter X(TM) route preparation system is poised to revolutionize pipeline installation planning by making previously impossible routes available for safe installation of new lines. AGR Subsea Ltd is a wholly-owned subsidiary of Norway's AGR Group (OSE ticker: AGR). 

Information on AGR Group may be found here: http://www.agr.com/

Source: PR Newswire