Paradigm Drilling Services Secures Contracts

Press Release
Wednesday, April 18, 2012
Fraser Innes (Photo: Paradigm Drilling Services).

Paradigm Drilling Services has had a strong start to 2012, securing over £1 million of new contracts in the UK and overseas.

The Aberdeenshire-based firm has signed a five-year lease on a 3,000 square-foot building adjacent to its headquarters on Thainstone Business Park, including workshop and office space to expand its research and development facilities with new drilling technology to be launched later this year.

A recruitment drive is underway. More than 30 people are now in place, and there are plans for a further 10 before the end of the year, including a general manager and additional design engineers.

The recent wins include new manufacture and servicing contracts for stabilizers and hole openers and rental and sales contracts in the UK, Middle East, West Africa and South America.  One contract alone is valued at £500,000 for the supply of tools to a client in Mexico.

“We have had an extremely positive start to 2012 securing new contracts, particularly in target global regions,” said Fraser Innes, chairman of Paradigm Drilling Services. “The new unit will enable us to greatly expand our research and development team and give our engineering staff a clean assembly and test area, as well as additional offices. We have filed six new patents in the last year with the main focus on enabling technology for extended reach drilling and completions.”

Paradigm Drilling Services, a subsidiary of the Netherlands-based Paradigm Group, reported a turnover of £2.2 million in 2011 and is expected to double this in 2012.
 

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Obangame Express 2015 Concludes in the Gulf of Guinea

Maritime forces from Gulf of Guinea nations, Europe, South America, and the United States and several regional and international organizations concluded the multinational maritime exercise,

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

Offshore

China Unveils Action Plan on Maritime Silk Road

China has unveiled the principles, framework, and cooperation priorities and mechanisms in its Maritime Silk Road initiative in a bid to enhance regional connectivity

JV Wins $2bln Freeport LNG Contract in US

A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural

Feds Delay LNG’s Port Ambrose Application

The US Coast Guard and the US Maritime Administration (MARAD) have temporarily suspended their review of the proposed Port Ambrose deep-water LNG import terminal.

 
 
Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2111 sec (5 req/sec)