ISQ Group wins $4 million contract for Chevron project in Angola
The ISQ Group, through its subsidiary in Angola – ISQAPAVE – won a tender to test the metal construction of Chevron’s five oil & gas drilling platforms, within the framework of the Mafumeira Sul project, in Angola. The contract is worth around $4 million and is scheduled to last two years. The Portuguese group has already begun non-destructive testing of the welds and metallic materials used in the five platforms. Ten highly qualified ISQAPAVE technicians will be involved in this project, in the area of non-destructive testing. It should be recalled that the ISQ Group has been present in Angola for around 30 years and currently has two companies under Angolan law: ISQAPAVE (in partnership with the French group APAVE, since 2005) and ISQ Reabilitação, since 2008. Mafumeira Sul Project The Mafumeira Sul project in Angola (offshore), involves the design, production and installation of five new platforms and is in its second phase of development. The first oil is expected to be extracted in 2015 and forecast to increase to a production capacity of 110,000 barrels of crude oil and 10,000 barrels of LPG (Liquefied Petroleum Gas) per day. The resulting natural gas will be marketed through the Angola LNG plant in Soyo, where the ISQ Group has also just won a $7 million project. Located 24 km offshore from the Cabinda province, Mafumeira Sul includes 50 wells, two drilling platforms, a central processing and compressing plant and approximately 120 km of underwater pipelines. It represents an investment of $5.6 billion and is the result of a consortium between Chevron’s subsidiary company in Angola – Cabinda Gulf Oil Company Limited, which is the operator, with 39.2% – and Sonangol EP, Total and ENI.