Paul Findlay, CEO of Patriot stated, "We are confident of continuing to secure orders from Brazil and throughout Latin America, so have therefore increased our presence in the region with the appointment of a regional manager, Mr. Robert Shinfield, who will head up our operations in South America. His initial task was to open a regional office in Macae, Brazil, which is nearing completion." He added, "The Singapore order is our first for the company since registering the company in that country. We expect to continue securing orders from Singapore and throughout Asia and have therefore appointed a regional manager, Mr. Craig Clarke, to head up our operations in Asia. "This order strengthens an already solid relationship with one of the largest rig builders in the World. We predict a strong order flow from this region overall."
The order from Brazilian drilling contractor Star International will be delivered to Queiroz Galvao Perfuracoes S.A. The order calls for Patriot to supply a Test Stump Deployment System, Guideline Winches and a Fingerboard, which is to be installed on the upgrade projects to the QGP Offshore Semi-submersibles, Atlantic Star and Alaskan Star. Delivery of the order is scheduled over two months during the first quarter of 2006.
The order from Keppel Fels Ltd., Singapore, calls for the Singapore regional office, 'Patriot Mechanical Handling Pte,' to supply three BOP Handling Systems. The systems are to be installed on the new build projects B269, B277 & B285 Awlico Drilling and SeaDrill Jackups.
"Our commitment to adding new offices in geographically strategic areas throughout the world demonstrates our commitment to building Patriot into a global company, operating in the markets critical to creating and maintaining growth."
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