Oil rig decommissioning in Rio to cost $12 billion in five years

The decommissioning of 21 old oil rigs in the Campos Basin, Rio de Janeiro state, will cost around 50 billion reais ($12 billion) over the next five years, a state official said.

All 21 old rigs that will be decommissioned are operated by state-controlled oil company Petroleo Brasileiro SA, development secretary Lucas Tristão told Reuters. He expects decommissioning work to generate 50,000 jobs in the state.

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