Sonadrill Lands Contract for Drillship
The 10-well plus eight-well option contract should keep the rig busy well into 2024.
Seadrill confirmed a new contract has been secured by Sonadrill Holding, Seadrill’s 50:50 joint venture with an affiliate of Sonangol for the drillship West Gemini. Sonadrill has secured a 10‑well contract with options for up to eight additional wells in Angola for an unknown operator.
Total contract value for the firm portion of the deal is expected to be around $161 million, with further revenue potential from a performance bonus. The rig is expected to begin the work in the fourth quarter of this year with a firm term of about 18 months, in direct continuation of the West Gemini’s existing contract.
The West Gemini is the third drillship to be bareboat chartered into Sonadrill, along with two Sonangol-owned units, the Sonangol Quenguela and Sonangol Libongos. Seadrill will manage and operate the units on behalf of Sonadrill. Together, the three units position the Seadrill joint venture as an active rig operator in Angola, furthering the goal of building an ultradeepwater franchise in the Golden Triangle and driving efficiencies from rig clustering in the region.