Seadrill, Sonangol JV Wins 10-well Offshore Drilling Contract in Angola

OE Staff
Monday, April 25, 2022

Offshore drilling firm Sonadrill, a 50:50 joint venture between Seadrill and an affiliate of Sonangol, has secured a ten-well contract with options for up to eight additional wells in Angola for the West Gemini drillship.

The total contract value for the firm part of the contract is expected to be approximately $161 million, including mobilization revenue and additional services, with further meaningful revenue potential from a performance bonus. Seadrill did not say who the client was.

The contract is expected to start in Q4 2022 with a firm term of approximately 18 months, in direct continuation of the West Gemini's existing contract. According to Seadrill's fleet status report issued in February 2022, the rig's current contract, with an undisclosed client, ends in November 2022. MarineTraffic show the rig is operating at the CLOV area offshore Angola. CLOV is operated by TotalEnergies.

The West Gemini is the third drillship to be bareboat chartered into Sonadrill, along with two Sonangol-owned units, the Sonangol Quenguela and Sonangol Libongos. 

Seadrill will manage and operate the units on behalf of Sonadrill. The West Gemini is an ultra-deepwater drillship with an operational history offshore Africa. 

"Together, the three units position the Seadrill joint venture as the premier rig operator in Angola, furthering the goal of building an ultra-deepwater franchise in the  Golden Triangle and driving efficiencies from rig clustering in the region," Seadrill said.

Seadrill's recently appointed Chief Executive Officer, Simon Johnson said: "Our strategic partnership with Sonadrill is critical to the development of the Angolan oil and gas sector and to Seadrill's position as the number one rig operator in Angola. We're grateful for the Seadrill crew aboard the West Gemini who deserves the lion's share of the credit for this contract."

Categories: Deepwater Drilling Activity Africa Drilling Rigs Drillling

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