![[Angola] Seadrill establishes new joint venture with Sonangol](Images/2018/08/sonangol.jpg)
[Angola] Seadrill establishes new joint venture with Sonangol
Seadrill Limited has announced that it has entered into a 50:50 joint venture with Empresa de Serviços e Sondagens de Angola Ltda, an affiliate of Sonangol E.P.
The new joint venture, Sonadrill, will operate four drillships, focusing on opportunities in Angolan waters.
Each of the joint venture parties will bareboat two drillships into Sonadrill. The Seadrill drillships will be from our existing owned or managed fleet.
The Sonangol drillships, Libongos and Quenguela, both 7th generation high spec ultra deepwater drillships, are currently under construction at DSME shipyard in Korea and expected to be delivered in the first half of 2019.
Seadrill will manage the delivery and mobilization to Angolan waters under a separate Commissioning and Mobilization Agreement with Sonangol.
Seadrill will manage and operate the four drillships on behalf of Sonadrill which will have an initial term of 5 years.
