Brazil’s Petrobras is understood to be looking at a number of alternatives to reduce its massive portfolio of offshore drilling units as it struggles to save cash and the rig market experiences its worst downturn in years.
Sources said Petrobras is analysing contracts of more than a dozen rigs due to expire in the next two years in an attempt to secure early terminations, as it aims to rationalise costs in the midst of a huge corruption scandal.
The
