Technip-Coflexip has signed a joint venture agreement with Sonangol for the creation of a new company named Angoflex Limitada, to operate a factory to be built at Sonamet fabrication yard located in Lobito, Angola, to manufacture subsea umbilicals. The factory, operational in mid 2003, will comprise all machinery for the manufacturing of steel tube
umbilicals and related products. It will have 50km per year capacity and will employ up to 45 personnel benefiting from the training programme launched locally. Increase of the capacity or broadening of the manufactured products are options considered for the future. This new entity will also complement the Group’s other units based in Luanda: Angoflex, in charge of
promoting the Group’s subsea capabilities for deepwater developments, Technip Angola, another Joint Venture with Sonangol EP, providing engineering and construction services to the offshore and downstream oil and gas activity in West Africa, and AMC Angola, specialized in the floaters / rigs mooring operations.
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