Sonangol acquires oil tanker ship for US$570 million

28 September 2006

Luanda, Angola, 28 Sept – Angolan state oil company Sonangol plans to buy an oil tanker and production ship for US$570 million to be used in developing the Gimboa oil field in bloc 4 of the country’s offshore area, officials said.

According to the ship’s manufacturer, Saipem, owned by Italian oil company ENI, the ship will be delivered at the beginning of 2008, and will be the result of converting an oil tanker with a 1.8 million barrel storage capacity able to produce 60,000 barrels of oil per day.

The ship will be used in developing the Gimboa field, located 85 kilometers off the Angolan coast, the company said, which is the second-largest European manufacturer of oil equipment.

The contract between the two companies requires the use of the equipment for a six-year period, and may be extended for a further five.

This year, Sonangol has had a daily production rate of 100,000 barrels of oil per day, which is a record for the company.

The Sonangol Group also includes Sonaship, SonAir, Essa, Sonangol Limited, Sonangol Usa, Sonangol Asia, Sonangol Cabo Verde, as well as Sonangol São Tomé e Príncipe. (macauhub)