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Petrobras reaches possible legal accord with rig lessor




By Reuters

Petroleumworld 03 02 2018

Brazilian state oil company Petroleo Brasileiro SA will continue to lease four rigs from Sete Brasil Participações SA and will terminate 28 other rig lease contracts, possibly settling a long-running legal dispute, it said on Thursday.

Petrobras, as the company is known, said in a securities filing the rig leasing contracts last for 10 years and are worth $299,000 per day. The accord“is conditioned on the presentation by Sete Brasil of a world-class rig operator with deep water experience,” it added.

Sete Brasil, which was founded in 2008 to fill the world's biggest deep-water drilling fleet order, filed for bankruptcy in 2016 after efforts to secure a long-term contract with Petrobras failed. That led to a legal dispute with the oil company.


Reporting by Gram Slattery; editing by Jason Neely from Reuters /
03 01 2018

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