Angoflex posts turnover of US$80 million from sale of equipment to oil companies in Angola

24 August 2009

Luanda, Angola, 24 Aug – Angolan company Angoflex is to sell equipment worth US$80 million to Total, British Petroleum and Exxon under the terms of contracts signed with those oil companies operating in Angola, said the company’s managing director, Claude Perrier.

Angoflex is an Angola-based company set up in March 2002 and owned by France’s Technip (70 percent) and Angola’s Sonangol (30 percent), focused on producing undersea and umbilical cables used for oil prospecting and exploration.

Perrier said that the oil crisis had affected sector companies all over the world but noted that Angoflex continued to see its business at acceptable levels, as demonstrated by the contracts signed with companies operating in the crude oil market.

Angolflex’s business is focused on the Angolan market alone, Perrier said when asked about the possibility of the company also receiving requests to manufacture cable for prospecting in other African oil producing countries.

Angoflex expects, within the scope of the current investment plan, to expand its central base for manufacturing umbilical cable in Lobito and barra do Dande, and Perrier added that “we hope to have a quick decision and conclude the investment in 2011, which will certainly be of over US$100 million.” (macauhub)