Biddeford-based Flotation Technologies Inc. said today it has received a follow-on contract award valued at $5.5 million for a custom-designed buoyancy system for an international energy company.

The contract will be delivered in the third and fourth quarters of 2008, and the client and product details are confidential due to the nature of the project, Flotation Tech said.

On April 18, the company announced that it will be acquired by Houston-based Deep Down Inc. in a stock deal worth an estimated $23.3 million.