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    Media: Sete Brasil plans to file a lawsuit against Petrobras

    For noncompliance with local rules in the pre-salt fields, Petrobras could incur fines between 5 bln to 7.5 bln USD

    Baku. 28 December. REPORT.AZ/ Petrobras was supposed to finalize its 20 bln USD drill ships package with Sete Brasil in September. 

    Report informs referring to the foreign media, Brazilian oil giant was expected to reduce its drill ships from 22 to 15 and participate in a 4 bln USD restructuring that would provide Sete Brasil with the necessary funding to build them. The restructuring has not been finalized and according to sources, Sete Brasil is considering suing Petrobras and filing bankruptcy. Reports also suggest that Petrobras's senior management believes it is best to abandon the project:

    For noncompliance with local rules in the pre-salt fields, Petrobras could incur fines between 5 bln to 7.5 bln USD. Whether those fines would inure to the benefit of Sete Brasil or its vendors like National Oilwell Varco (NYSE:NOV) is unclear.

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