|Monday, November 01, 1999
The Pride Africa has commenced operations offshore Angola for Elf Exploration Angola. The Pride Africa is an ultra-deepwater drillship capable of operating in water depths of up to 10,000 feet. The vessel is contracted to work for Elf for an initial term of five years. The Pride Angola, a sister ship to the Pride Africa, was recently completed and delivered by the shipyard in South Korea and is currently in transit to Angola. The Pride Angola is also contracted to Elf to work offshore Angola for an initial term of three years and is expected to commence operations in mid-January 2000. Both the Pride Africa and the Pride Angola are owned and operated by a joint venture between Pride and Sociedade Nacional de Combustiveis de Angola, Sonogal, the State owned oil company of Angola. Pride owns 51% of the venture.