THIS DOCUMENT IS A CONFIRMING COPY OF
              THE SCHEDULE 13D FILED ON MAY 9, 1996


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

SCHEDULE 13D
Under the Securities Exchange Act of 1934

Amendment No.:   *

Name of Issuer:  Diamond Offshore Drilling, Inc.

Title of Class of Securities: Common Stock, par value $.01 per
share

CUSIP Number: 252 71C 102

          (Name, Address and Telephone Number of Person
       Authorized To Receive Notices and Communications)  

  Gary J. Wolfe, Esq., Seward & Kissel, One Battery Park Plaza,
                New York, NY 10004; (212) 574-1200

     (Date of Event which Requires Filing of this Statement)

                         April 29, 1996

If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this
Schedule 13D, and is filing this schedule because of
Rule 13d-1(b)(3) or (4), check the following box [   ].

Check the following line if a fee is being paid with this
statement X .  (A fee is not required only if the filing person:
(1) has a previous statement on file reporting beneficial
ownership of more than five percent of the class of securities
described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of
class.  See Rule 13d-7).

*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.

The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18





of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions of the Act (however, see the
Notes).





CUSIP No. 252 71C 102

1.  Name of Reporting Person
    S.S. or I.R.S. Identification No. of Above Person

         Forvaltnings AB Ratos

2.  Check the Appropriate Box if a Member of a Group

         a.   
         b.   X

3.  SEC Use Only

4.  Source of Funds

         OO

5.  Check box if Disclosure of Legal Proceedings is Required
    Pursuant to Items 2(d) or 2(e)

6.  Citizenship or Place of Organization

         Sweden

Number of Shares Beneficially Owned by Each Reporting Person
With:

7.  Sole Voting Power:

         3,667,207

8.  Shared Voting Power:


9.  Sole Dispositive Power:

         3,667,207

10. Shared Dispositive Power:


11. Aggregate Amount Beneficially Owned by Each Reporting Person

         3,667,207

12. Check Box if the Aggregate Amount in Row (11) Excludes
    Certain Shares







13. Percent of Class Represented by Amount in Row (11)

         5.4%

14. Type of Reporting Person

         CO






Item 1.  Security and Issuer

The name of the issuer is Diamond Offshore Drilling, Inc.
("Diamond"), a Delaware corporation with its principal executive
offices located at 15415 Katy Freeway, Suite 400, Houston, Texas
77094.  This statement relates to the common stock, par value
$.01 per share ("Diamond Common Stock") of the issuer.

Item 2.  Identity and Background

The corporation filing this statement is Forvaltnings AB Ratos
("Ratos"), a corporation organized under the laws of Sweden, with
its principal offices at Drottninggatan 2, Box 1661, S-111 96,
Stockholm.  Ratos is a Swedish investment company.  The following
lists the officers and directors of Ratos, all of whom are
Swedish citizens:

Directors

Sven Soderberg
Chairman
P.O. Box 1661
S-111 96 Stockholm, Sweden

Erik Soderberg
Deputy Chairman
P.O. Box 1661
S-111 96 Stockholm, Sweden

Lars Bern
Chairman of Det Naturliga Steget Miljoinstitut AB
P.O. Box 1661
S-111 96 Stockholm, Sweden

Goran Grosskopf
Director of Ratos
P.O. Box 1661
S-111 96 Stockholm, Sweden

Harry Faulkner
Former President and CEO of Alfa-Laval
P.O. Box 1661
S-111 96 Stockholm, Sweden

Urban Jansson
President of Ratos
P.O. Box 1661
S-111 96 Stockholm, Sweden






Ulf Laurin
Chairman of the Swedish employers confederation
P.O. Box 1661
S-111 96 Stockholm, Sweden

Jan Soderberg
P.O. Box 1661
S-111 96 Stockholm, Sweden

Olof Stenhammar
President of OM-gruppen
P.O. Box 1661
S-111 96 Stockholm, Sweden

Officers

Urban Jansson
President
P.O. Box 1661
S-111 96 Stockholm, Sweden

Thomas Mossberg
Executive Vice President
P.O. Box 1661
S-111 96 Stockholm, Sweden

Hans Ekelund
Controller
P.O. Box 1661
S-111 96 Stockholm, Sweden

Fredrik Sandelin
Finance Director
P.O. Box 1661
S-111 96 Stockholm, Sweden

Olle Isberg
Manager of Stock Portfolio
P.O. Box 1661
S-111 96 Stockholm, Sweden

Neither Ratos nor any of its officers or directors 
listed above has been the subject of or convicted in a criminal
proceeding in the last five years, nor have any of them been a
party to any civil proceedings of a judicial or administrative
body of competent jurisdiction which resulted in an adverse
judgment, decree or final order concerning any federal, state or
similar foreign securities law violations.






Item 3.  Source and Amount of Funds or Other Consideration                      

Ratos acquired its 3,667,207 shares of Diamond Common Stock
described in Item 5 upon the consummation of the amalgamation of
Arethusa (Off-shore) Limited, a Bermuda company ("Arethusa"),
into Diamond, on April 29, 1996 (the "Merger").  As part of the
Merger, each Arethusa shareholder of record received .88 shares
of Diamond Common Stock.  Immediately prior to the consummation
of the Merger, Ratos owned 4,167,281 common shares of Arethusa.

Item 4.  Purpose of Transaction

Ratos has not acquired its Diamond Common Stock with a view
toward acquiring a controlling interest in Diamond.  Ratos
acquired its shares of Diamond Common Stock upon the consummation
of the Merger.  Ratos had entered into a shareholders' agreement
with respect to its common shares in Arethusa (the "Arethusa
Shareholders' Agreement") with Alphee S.A. ("Alphee"), Diamond,
Diamond Offshore (USA) Inc., a Delaware corporation and direct
wholly-owned subsidiary of Diamond ("Diamond USA"), and AO
Acquisition Limited, a Bermuda company and direct wholly-owned
subsidiary of Diamond USA.  Pursuant to the Arethusa
Shareholders' Agreement, Diamond caused a Registration Statement
(file no. 333-2680) (the "Registration Statement") to be filed
with the Securities and Exchange Commission ("SEC") covering,
inter alia, the resale of the shares of Diamond Common Stock to
be held by Ratos and Alphee upon the consummation of the Merger
and naming Ratos and Alphee therein as selling shareholders.  A
copy of the Arethusa Shareholder's Agreement is annexed as
Exhibit 10.5 to the Registration Statement.  By joint notice
dated April 29, 1996, Ratos and Alphee gave notice to Diamond
that they intend to offer 3,617,207 and 4,658,248 shares of
Diamond Offshore Common Stock, respectively, inclusive of
overallotment options, in an underwritten offering to be lead
managed by Merrill Lynch, Pierce, Fenner & Smith Incorporated
(the "Offering").  A prospectus supplement has been filed with
the SEC with respect to the Offering.  Ratos and Alphee reserve
the right to modify or withdraw the Offering of their respective
shares of Diamond Offshore Common Stock at any time.

Except as set forth above, Ratos does not have any plans or
proposals that would relate to or result in any of the actions
set forth in the instruction for Item 4(a)-(j).

Ratos may from time to time acquire additional Diamond Common
Stock for investment purposes or otherwise.

Item 5.  Interest in Securities of the Issuer






Ratos acquired 3,667,207 shares of Diamond Common Stock on April
29, 1996 upon the consummation of the merger.  The Shares
represent 5.4% of the outstanding Diamond Common Stock based on
the information contained in the Registration Statement.
 
No person listed in Item 2 other than Ratos owns shares of
Diamond Common Stock.

Ratos has not sold any shares of Diamond Common Stock since
having acquired them.  To Ratos' best knowledge, no transactions
in shares of Diamond Common Stock were effected by any other
person listed in Item 2 during the last 60 days.

Item 6.  Contracts, Arrangements, Understandings or
         Relationships with Respect to Securities of the
         Issuer                                         

As stated in Item 4 above, Ratos is party to the Arethusa
Shareholders' Agreement, pursuant to which Diamond has filed the
Registration Statement with the SEC covering the resale of Ratos'
shares of Diamond Common Stock.  A copy of the Arethusa
Shareholders' Agreement is annexed as Exhibit 10.5 to the
Registration Statement.

Other than the Arethusa Shareholders' Agreement and as
contemplated by the Offering, Ratos is not a party to any
contracts, arrangements, or understandings, and has entered into
no relationships, concerning the securities of Diamond.  By
virtue of the Arethusa Shareholders' Agreement, Ratos and Alphee
may be deemed to be members of a "group," as such term is used in
Rule 13d-5, but Ratos disclaims membership in a group with Alphee
S.A. for purposes of their beneficial ownership of any shares of
Diamond Common Stock.

To Ratos' best knowledge, no other contracts, arrangements,
understandings or relationships with respect to the shares of
Diamond Common Stock exist between the other persons listed in
Item 2.

Item 7. Exhibits.

A copy of the Arethusa Shareholders' Agreement is annexed as
Exhibit 10.5 to the Registration Statement.





Signature

After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this
statement is true complete and accurate.



                                  FORVALTNINGS AB RATOS


                                  By:     /s/ Gary J. Wolfe        
Date:  May 8, 1996                  Name:  Gary J. Wolfe
                                    Title: Attorney-in-Fact







































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