Seadrill Announces Two Contracts for Sonadrill Joint Venture in Angola

Seadrill announces two contracts for its 50:50 joint venture, Sonadrill, with estimated durations of 284 days and 525 days, respectively. The contracts are with Sonangol Exploração & Produção, S.A. and Azule Energy Angola B.V. in Angola, with expected commencement dates in late 2025 or early 2026 and third quarter of 2025, respectively. Seadrill earns a management fee for providing management, operational, and technical support to Sonadrill.

Seadrill Limited (NYSE: SDRL) has announced the award of two significant offshore drilling contracts to its 50:50 joint venture, Sonadrill, with Sonangol E.P. in Angola. The contracts, which are part of Seadrill's continued expansion in the region, will position the joint venture for long-term success.

The first contract, awarded by Sonangol Exploração & Produção, S.A., is for the West Gemini drillship to operate in Angola with an estimated duration of 284 days. This contract is expected to commence in late 2025 or early 2026. The second contract, awarded by Azule Energy Angola B.V., is for the Sonangol Libongos drillship with an estimated firm term of 525 days, plus priced options beyond this initial term. The program is set to commence offshore Angola in the third quarter of 2025, following the current contract.

Seadrill will earn a management fee for providing management, operational, and technical support to Sonadrill. The company's modern fleet, experienced crews, and advanced technologies will be instrumental in executing these contracts, which are part of the broader strategy to unlock oil and gas resources for various clients in the region.

These contracts come at a time when the offshore drilling market is experiencing fluctuations in supply and demand, dayrates, and customer drilling programs. Seadrill's ability to secure these contracts underscores its competitive edge in the industry, driven by its strong operational capabilities and strategic partnerships.

Seadrill's forward-looking statements highlight potential risks and uncertainties, including offshore drilling market conditions, contract awards, and the impact of global economic conditions. Despite these risks, the company's recent contract awards demonstrate its resilience and adaptability in the face of market challenges.

For further information, visit [www.seadrill.com](http://www.seadrill.com).

References:
[1] Seadrill Limited. (2025, August 25). Seadrill announces contracts in Angola for Sonadrill joint venture. Retrieved from [https://www.stocktitan.net/news/SDRL/seadrill-announces-contracts-in-angola-for-sonadrill-joint-6q238udhtg0i.html](https://www.stocktitan.net/news/SDRL/seadrill-announces-contracts-in-angola-for-sonadrill-joint-6q238udhtg0i.html)