MHWirth’s Macaé Plant Ready

MHWirth, owned by the Akastor group, has completed construction of its drilling packages plant in Macaé (Rio de Janeiro). The information was disclosed during the presentation of the company’s 4Q15 earnings results. However, no date was announced for the beginning of the US$ 100 million plant’s operations.

The company had previously suspended manufacturing orders for drilling systems for the last four drill rigs out of seven that Sete Brasil had contracted from Akastor due to the uncertainties regarding the financial situation of the Jurong shipyard.

In relation to the first three rigs in the package, the company said it had already handed over virtually all the equipment and obtained revenues of between NOK 200 million and NOK 300 million (US$ 35 million) on these projects in 4Q15.

The Akastor group started an internal investigation about corruption in Brazil. The company claims it has no knowledge of corruption nor has it been accused of any shady dealings here. Nevertheless, it opted to investigate in cooperation with outside consultants.