Brazilian rig builder established

Reports from Brazil say a combination of government and private investors have formed a new company to build offshore rigs for Petrobras.

Offshore staff

SAO PAULO, Brazil – Reports from Brazil say a combination of government and private investors have formed a new company to build offshore rigs for Petrobras. The company, Sete Brasil SA, will build seven rigs according to Petrobras, with the first scheduled to go onstream in 2015.

The new company will partner with Estaleiro Atlantico Sul shipyard to build the rigs. These will be the first ever fabricated in Brazil.

Sete is owned by Brazilian banking groups Santander, Bradesco, BTG Pactual, and Caixa Economica Federal as well as Brazilian pension funds Previ, Petros, Funcef, Valia, and Lakeshore Financial Partners, Petrobras said. Petrobras will own less than 10% of Sete.

05/18/2011

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