Offshore Angola Contract Could Lead to 32 Wells

Sonadrill Holding Ltd – the 50:50 joint venture between Seadrill Limited (Oslo: SDRL) and an affiliate of Sonangol E.P. – has won a 12-well contract with one option for nine wells and 11 one-well options in Angola for the Sonangol Quenguala drillship, Seadrill reported Friday.

Seadrill pointed out that it expects the total firm portion of the contract to be worth approximately $131 million, including mobilization revenue and additional services. The company added in a written statement to Rigzone that the contract hinges on National Concessionaire approval.

“Sonadrill is a strategic partnership in an important deepwater basin,” remarked Seadrill CEO Stuart Jackson. “The operational excellence and experience of our team has driven this expansion of the joint venture. Securing the contract for the Sonangol Quenguela drillship is a great achievement and is testament to the confidence that our partners and clients have in the company and its staff.”

A 7th generation, ultra-deepwater drillship delivered in 2019, Sonangol Quenguela can drill wells to 40,000 feet (12,192 meters), Seadrill stated. The drilling contractor added the vessel is the second of two Sonangol-owned drillships to be bareboat-chartered into Sonadrill. Sonangol’s other drillship is the Sonangol Libongos.

According to Seadrill, the contract is expected to commence in the first quarter of 2022 and run to the third quarter of 2023. The firm added that it expects two other, Seadrill-owned drilling units to be bareboat-chartered into Sonadrill.

Seadrill pointed out that it will operate the four units on Sonadrill’s behalf.

“We are delighted to announce this contract within our successful partnership with Sonangol,” commented Matthew Lyne, Seadrill’s senior vice president commercial. “We are grateful to Sonangol for their continued support and trusting us with their world-class asset. The expertise of Seadrill’s offshore and onshore staff will be invaluable to the operation of the Quenguela, and we’re thrilled to be building this important foundation for our future commercial successes.”
Source: RigZone