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Stakeholders to decide fate of Sete Brasil

Brazilian rig-building firm Sete Brasil held a meeting of all stakeholders on Friday to discuss whether to seek Chapter 11-style bankruptcy protection, and on the agenda will be a Petrobras proposal to appoint a mediator to break the deadlock, according to a report by Folha de Sao Paulo newspaper.

Problems: semisub rig Urca is one of the few projects Sete Brasil has come close to completing
Problems: semisub rig Urca is one of the few projects Sete Brasil has come close to completing
  • Gareth Chetwynd & news reports
Published 8 April 2016, 16:17Updated 18 October 2016, 05:07
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