Sete Brasil’s ex president, João Carlos Ferraz, admited that in a moment of weakness in 2013 he accepted bribes of U$1.9 million from the shipyards constructing Sete’s rigs. The company’s board have taken legal action and are asking for R$22 million in restitution.
The company’s board assures that this incident will not affect the on going restructuring of the company. Sete is negotiating with its creditors longer terms and capital injections to finish construction of the now 15 rigs (down from 28) that are under contract to be delivered to Petrobras for the pre-salt fields.
Brazil Energy Insight 
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