South Korean company builds two oil rigs for Sonangol

8 November 2013

South Korea’s Daewoo Shipbuilding and Marine Engineering is building two oil rigs for Angolan state oil company Sociedade Nacional de Combustíveis de Angola (Sonangol), a Sonangol official said Thursday in Luanda.

“The rigs will be able to operate in Angola and anywhere in the world where Sonangol has interests,” said engineer Paulo Fernandes speaking at an oil conference in the Angolan capital, according to financial news agency Bloomberg.

Declining to say how much the rigs cost, Fernandes added that they would start operating in 2016.

He also noted that Sonangol was analysing construction of a logistics base in the south of Angola, possibly in Lobito, where a refinery is under construction with capacity to process 200,000 barrels of oil per day.

Sonangol operates in Brazil, Gabon and Iraq, as well as having stakes in blocks in Angola. In February Sonangol officials said that the company planned to invest US$8.8 billion in oil prospecting over the next ten years. (macauhub)