Brazilian drilling contractor Sete Brasil and Singapore’s offshore rig builder Sembcorp Marine have fulfilled all conditions precedent for a settlement regarding contracts for the construction of seven drillships to become effective and Sembcorp Marine is now in talks with a buyer for the completion of two drillships.
Sembcorp Marine said on Thursday that all conditions for the settlement with Sete Brasil had been fulfilled and that the settlement agreement between the two companies was now effective.
Brazil Energy Insight 
Singapore rig contractor trying hard to recover back cost, hope it can succeed!
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