M-I SWACO has secured a substantial multi services contract from Chevron subsidiary Cabinda Gulf Oil Co Ltd covering drilling and completion fluids, drilling waste management, filtration, wellbore clean up tools, vessel cleaning and related services in Angola.
The six year agreement begins in June 2010 and is expected to result in approximately US$800 million in revenues over the lifetime of the contract.
The M-I SWACO contract routinely services 6–10 drilling rigs offshore Cabinda, Angola in Blocks 0 (shallow water) and Block 14 (deepwater) and is one of the largest individual, multi service contracts in West Africa.
Chris Rivers, president and CEO of M-I SWACO, said: “The continuation of our relationship with Cabinda Gulf Oil Co is truly valued. This award demonstrates our leadership in providing best-in-class solutions in the highly technical and challenging offshore market of Angola.”
M-I SWACO, which is headquartered in Houston, Texas, is jointly owned 60% by Smith International Inc and 40% by Schlumberger Ltd