Petrobras’ platform hull builder Ecovix may delay delivery

Ecovix, a unit of the Engevix group, said it may have to delay delivery of four hulls for oil and gas production platforms intended for Brazil’s state-run oil company Petroleo Brasileiro SA due to troubles securing funds from state lender Banco do Brasil .

The shipbuilder, which is entangled in the massive Operation Car Wash corruption investigation and as a result has struggled to secure fresh financing, won a contract to build eight hulls for Petrobras, as the company is known, by 2018. Four have already been delivered.

To meet the delivery deadlines for the other four hulls intended to be deployed in Brazil’s subsalt discoveries, Gabriel Freire, the shipbuilder’s interim director of legal affairs, said Ecovix is in talks with Petrobras and lenders to try to resolve its problems securing fresh credit from Banco do Brazil, Brazil’s biggest state-owned bank.

Ecovix has debts of 140 million reais with Banco do Brazil.

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