Petrobras has lost an arbitration case in New York initiated by Brazilian contractor Iesa Oil & Gas related to engineering, procurement and construction contracts for the manufacture of topsides modules for production platforms in Brazil's pre-salt province.

According to Iesa controller Inepar, the International Court of Arbitration ruled that Petrobras breached two contracts providing for the construction of 24 modules for a number of floating production, storage and offloading vessels.

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