Seadrill Venture Nets New Drilling Contract

Contract for a dozen wells plus options to begin next year.

Sonangol Quenguela
Sonangol Quenguela.

Seadrill’s Sonadrill Holding Ltd., the 50/50 joint venture with an affiliate of Sonangol, has secured a 12-well contract with one option for nine wells and

11 one-well options in Angola for drillship Sonangol Quenguela. The $131-million contract before options is inclusive of mobilization revenue and additional services with commencement expected in early 2022 and running through mid-2023. The contract is contingent on National Concessionaire approval.

Sonangol Quenguela is the second of two Sonangol-owned drillships to be bareboat-chartered into Sonadrill. The drillship is a seventh-generation, DP3, dual activity, e-smart ultradeepwater drillship delivered in 2019, capable of drilling up to 40,000-ft wells.

A further two Seadrill-owned units are expected to be bareboat-chartered into Sonadrill. Seadrill will manage and operate the four units on behalf of Sonadrill.