Seadrill secures multimillion-dollar contract in Africa

Rig company Seadrill, currently under bankruptcy protection, secures a contract in a joint venture, Sonadrill Holding Ltd, with Sonangol E.P. The contract is estimated at USD 131 million.

Photo: Ints Kalnins/Reuters/Ritzau Scanpix

Rig company Seadrill, which is currently under bankruptcy protection and has magnate John Fredriksen in the ownership circle, has secured a contract in Angola on the west coast of Africa in a 50/50 joint venture with Sonangol E.P.

The contract is a so-called 12-well contract, with one option for nine wells and 11 one-well options in Angola for drilling vessel Sonangol Quenguela.

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