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Heerema to wind down ‘no longer economically viable’ Angola business

Posted On: 06-11-2020

Dutch offshore contractor Heerema Marine Contractors has decided to close its joint ventures in Angola due to poor market conditions. In a statement on Friday, Heerema Marine Contractors said that the ongoing poor market conditions and sustained low oil price mean that the Heerema Angola Joint Ventures were no longer economically viable. Having explored possibilities for the future within Angola, the company said that it had 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 are sold to its 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 two months, the full closure is expected in December this year, the company said. “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 stated. The company has advised all relevant authorities and all long-term clients of its decision. HPA, an incorporated Angolan joint venture between Heerema Marine Contractors and Cenbir, offers offshore subsea services to the oil & gas and energy-related industries in Angola. HPA’s fabrication yard is located in Porto Amboim, 175 km south of the Angolan Capital Luanda. It is specialized in the construction of subsea structures.