Sete Brasil reaches settlement with Singapore’s rig builders

Brazilian drilling contractor Sete Brasil has reached agreements with Singapore’s rig builders Keppel Offshore & Marine and Sembcorp Marine related to contracts for the construction of six semi-submersible rigs and seven drillships, respectively. 

Sete Brasil was formed in 2011 to own and operate drilling rigs to be used by Petrobras for drilling offshore Brazil. The company was subsequently linked to the largest corruption scandal in Brazil, the Lava Jato, which blocked it from obtaining the previously approved bank loans that were meant to be used for rig payments.

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