The $7.2 million order from Baerfield Drilling LLC and Soratura LLC, two Schahin subsidiaries, is for 2 rig sets, comprising pipe handling systems and drill floor equipment for new build semi-submersibles. The $2.4 million order from Diamond Offshore is for a pipe racking system and a BOP crane. These are the first orders secured from either company by Patriot.
Schahin is a major Brazilian corporation with operations in the country's chief sectors of development: Engineering, Real Estate Development, Telecommunications, Power Line Concessions, Oil and Gas, Finance (Banking, Brokerage and Financial Services) and Fleet Monitoring. Schahin Group's Oil and Gas division was created in 1982 to provide specialized oil and gas well drilling and workover services.
Diamond Offshore Drilling, Inc., a leading deepwater drilling contractor, owns and operates one of the largest fleets of offshore drilling units in the world. The company's diverse fleet consists of 30 semi-submersibles, 13 jack-ups and one dynamically positioned drillship. Diamond Offshore provides contract drilling services to the global energy industry and is a leader in deepwater drilling.
Paul Findlay, CEO of Patriot, commented, "We continue to expand our client base and to develop relationships with some of the largest companies in the market. Further significant orders are under negotiation and we expect to be in a position to announce these shortly.
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