PRIDE ANGOLA

Pride International's new-build drillship, Pride Angola has commenced operations offshore Angola for Elf Exploration. The Pride Angola is an ultra-deepwater drillship capable of operating in water depths of up to 10,000 feet. The rig has an initial contract term of three years. The Pride Angola and its sister ship Pride Africa are owned and operated by a joint venture between Pride and Sociedade Nacional de Combustiveis de Angola ("Sonangal"), the state-owned oil company of Angola. Pride owns 51% of the venture.
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