The letter of intent is subject to the negotiation of a final purchase order once engineering is completed. Together with the previously announced letter of intent for the Delba-3, Deep Down now has orders for approximately $18 million of deepwater marine drilling riser flotation systems.
Both the Delba-3 and the Delba-4 are rated to drill in 2,400m of water but are readily upgradeable to 2,700m and have long-term contracts to drill in Brazilian waters.
Ronald Smith, Deep Down’s president and CEO, said: A letter of intent is the first step in a committed process which typically becomes a purchase contract upon completion of joint engineering efforts between us and our clients.
