EAS bid $4.65 billion, offering a Samsung design to be built in the north-eastern Brazilian state of Pernambuco.

The Petrobras board was due to consider the matter as Upstream went to press.

With approval of this contract seen as imminent, Petrobras also stepped up the marketing exercise for its new holding company for the drilling sector.

The oil company summoned up a host of Brazilian and inter­national rig operating companies last week to present the holding company Sete Brasil ­(Seven ­Brazil).

The