Heerema Winding Down Angola JVs



Heerema Winding Down Angola JVs
Heerema Marine Contractors has revealed that its Angola joint ventures are no longer economically viable.

Heerema Marine Contractors (HMC) has revealed that its Angola joint ventures are no longer economically viable due to “ongoing poor market conditions” and the “sustained low oil price”.

The company said that it explored possibilities for the future within Angola but concluded that the closure of Heerema Porto Amboim (HPA) and Heerema Marine - Sociedade Angolana de Transportes (HMT) was the “appropriate option”. 

HMC outlined that its shares in HPA are being sold to its joint venture partner, while HMT is being liquidated as a result of the company’s strategic decision. Following a wind down of services over the next two months, a full closure is expected in December this year. The HPA yard and HMT office currently employ around 40 people.

“The decision to cease operations in Angola is a difficult one and comes in response to long-term challenges and a limited outlook for work in the future,” HMC said in a statement posted recently on its website.

“We deeply regret the job losses that will result from this decision and will support our people through the transition,” the company added in the statement.

HMC revealed that it will continue to operate from its branch in Angola, providing heavy lift installation services for the offshore energy markets. The company said it has advised all relevant authorities and all long term clients of its decision and said it appreciates their efforts of support. 

HMC describes itself as a world leading marine contractor in the international offshore oil and gas industry. The company transports, installs and removes all types of offshore facilities, including fixed and floating structures in shallow, deep, and ultra deep waters, its website states. The business, which is headquartered in Leiden, the Netherlands, first launched its operations in Venezuela back in 1948.

To contact the author, email andreas.exarheas@rigzone.com



WHAT DO YOU THINK?


Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.