ANGOLA – Dutch offshore contractor Heerema Marine Contractors has announced the closure of its Angola Joint Ventures, citing ongoing poor market conditions and sustained low oil price, making the Joint Venture no longer economically viable.
Having explored possibilities for the future within Angola, Heerema has concluded that the closure of Heerema Porto Amboim (HPA) and Heerema Marine – Sociedade Angolana de Transportes (HMT) is the appropriate option.
The Heerema shares in HPA have been sold to Hereema’s Joint Venture partner, while HMT is liquidated as a result of this strategic decision.
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 and the company deeply regret the job losses that will result from this decision and will support its people through the transition,” the company said in a statement.
Heerema Marine Contractors will however continue to operate from its branch in Angola, providing heavy lift installation services for the offshore energy markets.
Heerema Marine Contractors (HMC) is a world leading marine contractor in the international offshore oil and gas and renewables industry.
Heerema Marine Contractors excels at transporting, installing and removing offshore facilities and manages the entire supply chain of offshore construction, from design through to completion.
Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals and insights from Africa’s business, economy and more. SUBSCRIBE
