Oil & Gas

Low oil price forces Heerema to cease Angolan joint ventures

Heerema Marine Contractors is withdrawing from its Angolan joint ventures Heerema Porto Amboim (HPA) and Heerema Marine – Sociedade Angolana de Transportes (HMT). The ongoing poor market conditions and sustained low oil price mean the joint ventures are no longer economically viable, the company states.

Both companies are joint ventures between Heerema and Cenbir. Heerema Porto Amboim offers offshore subsea services to the Angolan oil & gas industries in and operates a fabrication yard in Porto Amboim, which specializes in the construction of subsea structures.

With Heerema Marine-Sociadade Angolana de Transportes (HMT), the partners offer offshore marine transport services to the oil and gas industry in Angola. HMT manages and operates one cargo barge and one tug and provides logistical management and engineering support.
Having explored possibilities for the future within Angola, Heerema has concluded that the closure of Heerema Porto Amboim and Heerema Marine – Sociedade Angolana de Transportes (HMT) is the appropriate option.

The Heerema shares in Heerema Porto Amboim (HPA) are sold to Cenbir, while HMT is liquidated. The HPA yard and HMT office currently employs around 40 people and following a wind-down of services over the next 2 months, the full closure is expected in December this year.

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

Heerema Marine Contractors will not exit the Angolan market completely but continue to operate from its branch office Talatona in the Luanda province, from where the company will provide

heavy lift installation services for the offshore energy markets.

Author: Adnan Bajic

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