Two bids have been submitted as ailing Brazilian rig owner Sete Brasil tries to find buyers for four unfinished ultra-deepwater rigs that form the core of the company’s restructuring plan.
Commercial court documents seen by Upstream showed that Magni Partners, controller of Oslo-listed Borr Drilling, bid for all four rigs on offer — semi-submersibles Urca and Frade and drillships Arpoador and Guarapari — nominating contractor Etesco as operator-partner.
