Angola: Sonangol seeks rig clients

Issue 342 - 16 Mar 2017 | 1 minute read

Sonangol is seeking help from international oil companies (IOCs) to secure the release of two drilling rigs ordered from South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME). The rigs were ready for delivery last year, but Sonangol was unable to pay the balance of the purchase price. Sonangol said in a statement that work was ongoing to secure financing, select technical and operational partners, and identify new production opportunities to employ the drilling rigs in the Angolan market.

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