Continental Focus, International Reach

New JV for Seadrill in Angola

Thursday, February 7, 2019

Seadrill entered into a 50/50 JV with Empressa de Servicos e Sondagens de Angola Ltda, an affiliate of Sonangol. The new JV, Sonadrill, will operate four drillships, focusing on opportunities in Angolan waters.

Each of the JV parties will bareboat two drillships into Sonadrill. The Seadrill drillships will be from Seadrill’s existing owned or managed fleet. The Sonangol drillships – Libongos and Quenguela – both 7th generation high-spec ultra-deepwater drillships, are currently under construction at DSME shipyard in Korea and expected to be delivered in H1 2019.

Seadrill will manage the delivery and mobilization to Angolan waters under a separate Commissioning and Mobilization Agreement with Sonangol.

Seadrill will manage and operate the four drillships on behalf of Sonadrill which will have an initial term of five years.