Seadrill forms joint venture with Sonangol
Seadrill has entered into a 50:50 joint venture with Empresa de Serviços e Sondagens de Angola, an affiliate of Angolan oil and gas company Sonangol.
The venture, named Sonadrill, will operate four drillships focusing in Angolan waters.
Each of the joint venture parties will bareboat two drillships into Sonadrill.
Sonangol’s drillships, namely, Libongos and Quenguela, are currently under construction at Daewoo Shipbuilding and Marine Engineering and are expected to be delivered in the first half of 2019.
Seadrill will manage the vessels’ delivery and mobilisation to Angolan waters under a separate commissioning and mobilisation agreement with Sonangol.
Seadrill will also manage and operate the four drillships on behalf of Sonadrill under a charter which will have an initial term of five years.