The news of the 8.8 billion reais deal confirms an earlier Upstream report that BNDES had been planning an investment in the company.
The deal will also see the BNDESPAR unit subscribe to convertible debentures worth up to 1.2 billion reais issued by Sete.
"The BNDES financing will help to advance the development of the national navel construction industry and supply chain of oil and gas suppliers, as well as contributing to the national local-content policy established by the federal government for the development of oil and gas fields," the bank said on Thursday.
The
