Pride International lifts stake in Angolan JV

By OGJ editors
HOUSTON, Dec. 21 -- Pride International Inc. acquired from Angola's state-owned Sonangol an additional 40% interest in a joint venture owning drillships and platform rigs. The purchase price was $175 million.

Pride International of Houston now owns 91% of the joint venture, and Sonangol owns 9%.

The joint ventures owns the ultradeepwater drillships Pride Africa and Pride Angola and the 300-ft independent-leg cantilever jack up Pride Cabinda. It also holds management agreements for the deepwater platform rigs Kizomba A and Kizomba B.

Related Articles

Gazprom Neft produces millionth bbl from Prirazlomnoye field

09/15/2014

JSC Gazprom Neft reports producing the millionth bbl of oil from the Prirazlomnoye field in the Pechora Sea.

US firms' reported earnings dip in second quarter

09/15/2014 Second-quarter profits for a group of 53 US-based producers and refiners totaled $25.45 billion, which was down 8.1% from the same period in 2013.

Federal judge finds BP E&P negligent in Macondo crude oil spill

09/12/2014 A nearly 5 million bbl crude oil spill following the 2010 Macondo deepwater well blowout in the Gulf of Mexico was the result of operator BP Explor...

Statoil expanding project that captures flare gas in North Dakota

09/12/2014 Statoil ASA says a pilot project that captures flare gas in North Dakota is expanding to power six drilling rigs and a hydraulic fracturing fleet.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected