Sonangol Libongos

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escveritas
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Sonangol Libongos

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Sonadrill Holding Ltd (Sonadrill), Seadrill Limited’s (Seadrill) 50:50 joint venture with an affiliate of Sonangol E.P., has secured a nine well contract with six options, each for one well, in Angola for the Libongos drillship. The estimated total contract value is $101 million with commencement expected late Q3 2019 and running to early 2021.

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The Libongos is the first of two Sonangol owned drillships to be bareboat chartered into Sonadrill along with two Seadrill-owned or managed units. Seadrill will manage and operate the four units on behalf of Sonadrill.

Libongos is a Daewoo e-SMART ultra-deepwater drillship built at Okpo Shipyard in South Korea. The unit was delivered to Sonangol in May 2019 and has been on standby in Walvis Bay, Namibia.
escveritas
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Re: Sonangol Libongos

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Seadrill Limited Announces New Contract in Angola for Seadrill Joint Venture

Hamilton, Bermuda, 03 November 2022 – Seadrill Limited (“Seadrill” or “the Company”) (NYSE & XOAS: SDRL) is pleased to announce a new extension has been secured by Sonadrill Holding Ltd (“Sonadrill”), Seadrill’s 50:50 joint venture with an affiliate of Sonangol E.P. (“Sonangol”). Sonadrill has secured a 12-well extension in Angola for the Libongos drillship at $402,500 per day.

Total contract value for the firm portion of the contract is approximately $327 million, inclusive of additional services. Commencement is expected in Q4 2022, with a firm-term of approximately 25 months, in direct continuation to the existing contract.

There are currently three drillships bareboat chartered into Sonadrill, a Seadrill owned unit, the West Gemini and two Sonangol-owned units, the Quenguela and Libongos. Seadrill manage and operate the units on behalf of Sonadrill.

Seadrill’s Chief Executive Officer, Simon Johnson commented “Sonadrill remains strategically important for the development of the Angolan oil and gas sector. Sonadrill is the number one rig operator in Angola and this new contract will generate significant free cash flow for the joint venture which will ultimately flow to Seadrill and Sonangol as shareholders.”
escveritas
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Re: Sonangol Libongos

Unread post by escveritas »

Seadrill's Sonangol Libongos has clinched Seadrill's Rig of the Quarter Q4 2023.

Peter Lewis curently is the Rig Manager
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