Sonadrill Bags $327 Million Contract Extension for 12 Wells in Angola

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Sonadrill – a joint venture between Angolan state-owned entity, Sonangol and Bermuda-based global drilling solutions firm, Seadrill – has secured a $327 million extension contract for the provision of its Lobingos drillship in Angola.

Sonadrill’s Lobingos rig will be leveraged to drill 12 more wells at a rate of $402,500 per day over a period of 25 months as from the fourth quarter of 2022 as part of the contract.

The rig has been in operation in Angola since December 2020 and was utilized by major Eni, in its discovery of light oil in Block 15/06 in 2021.

The development comes as Angola – Africa’s largest producer of crude oil – seeks to expand exploration activities to address its depleting output due to natural declines in legacy projects.

Simon Johnson, CEO, Seadrill, said: “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.”

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ANGOLA OIL & GAS 2022

Representing the country’s official energy event, AOG 2022, in partnership with the Ministry of Petroleum and Mineral Resources of Angola, will take place in Luanda on 29-30 of November and December 1st, 2022.

ANGOLA OIL & GAS 2022

Representing the country’s official energy event, AOG 2022, in partnership with the Ministry of Petroleum and Mineral Resources of Angola, will take place in Luanda on 29-30 of November and December 1st, 2022.

Nicholas Nhede

Nicholas Nhede

Nicholas is an energy sector journalist with a passion on how technology and diversification of the energy mix can be used to address energy sector challenges. Nicholas holds a diploma in Journalism and Communication studies and has been covering energy-related topics including the Internet of Things, distributed energy and digitalisation since 2015.

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