|| Drillmec has signed a contract worth approximately 60 million USD for the supply of specialized equipment systems for two semisubmersible 3,000hp tender assisted drilling rig for a renowned international drilling contractor. The equipment will be manufactured in Piacenza, assembled and delivered in Batam (Indonesia) where it’s expected by late 2016. The systems produced by Drillmec will have the most advanced technology in terms of automation and security and will be used for workover wells offshore.
Petreven signed a new contract with an international Italian company specialized in the production of renewable and geothermal energy in Chile for the supply of drilling services in the geothermal site of Cerro Pavellon. The value of the contract is approximately USD 40 million and has a duration of 34 months. The rig that will be used is manufactured by Drillmec and is part of the innovative HH series with hydraulic technology that best suits the works of this kind.
Simone Trevisani, CEO of Drillmec, stated: "Despite the market conditions in the oil and gas sector are not entirely favorable the company remains well positioned to seize opportunities in areas that show significant signs of business development. In the Far East market we were able to secure this important contract that allowed us to further increase our backlog. At the end of the first half of 2015 the Drillmec division has indeed recorded a backlog of approximately 380 million Euro and this will allow us to grow the business further with a normalization of the operating margins. The Petreven division will carry out geothermal energy services in Chile for one of our historical customer and this confirms the fact that the technology remains one of the major assets of our company".