Seadrill Ltd.’s 50:50 three way partnership with Sonangol EP, Sonadrill Holding Ltd., has secured two contracts in Angola. The 2 offers are positioning the three way partnership for long-term success, Seadrill stated in a media launch.
Seadrill stated West Gemini secured a contract from Sonangol Exploracao & Producao SA for work in Angola with an estimated length of 284 days, anticipated to start in late 2025 or early 2026.
In the meantime Sonangol Libongos was contracted by Azule Power Angola BV with an estimated agency time period of 525 days, plus priced choices past this preliminary time period. Seadrill stated that this system is anticipated to start offshore Angola within the third quarter of 2025 in direct continuation of the present contract.
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“There are presently three drillships bareboat chartered into Sonadrill, a Seadrill-owned unit, the West Gemini, and two Sonangol-owned models, the Sonangol Libongos and Sonangol Quenguela”, Seadrill stated. “Seadrill earns a administration payment for offering administration, operational and technical help to Sonadrill”.
For the second quarter, Seadrill reported administration contract revenues of $65 million, a $4 million sequential enhance. Seadrill stated the rise mirrored a rise within the every day administration payment it has agreed for its companies supporting Sonadrill.
Whole working revenues for the second quarter rose by $42 million to $377 million from $335 million for the earlier quarter. The rise was primarily pushed by contract revenues, which grew by $40 million to $288 million, in accordance with Seadrill.
Nevertheless, Seadrill reported a internet lack of $42 million for the second quarter.
Working bills for the interval elevated by $54 million to $371 million.
To contact the writer, e-mail andreson.n.paul@gmail.com
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