Reuters | Oct 05, 2019 00:00
By Aluisio Alves
SAO PAULO (Reuters) - Creditors of Brazilian oil platforms and rigs maker Sete Brasil have approved the sale of four oil exploration rigs to British company Magni Partners, two sources familiar with the deal told Reuters on Friday.
The rigs sold are named Urca, Frade, Arpoador and Guarapari. The four rigs have a 10-year leasing contract with Petrobras (SA:PETR4), which will pay $299,000 per day for each rig when operational, one of the sources said.
The sources, who spoke on condition of anonymity, had no information regarding total value of the deal. A representative of Magni Partners could not immediately be reached for comment.
Sete Brasil, which is under bankruptcy protection, was created in 2010 with the aim of building 29 rigs for the exploration of a prolific pre-salt oil region in Brazil. But lower oil prices and a corruption investigation that engulfed Petrobras ended by hurting those plans.
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.