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Announced With Great Euphoria by the Metalworkers’ Union of Angra dos Reis, This News Boosts the Shipyards of Brasfels and Jurong and May Generate Thousands of Jobs This Year
The return of the shipyards in Angra dos Reis and Jurong is now more likely to resume construction contracts than it was a few years ago, before the entire crisis that hit the Brazilian naval sector. The fact is that Petrobras started negotiations this week with Sete Brasil for operations at the Brasfels and Jurong shipyards for 4 more drilling rigs. According to the state-owned company’s assessment, Sete Brasil has ample capacity to carry out the work for these units, but before that, it needs to resolve some bureaucratic pending issues.
The first of these is the issue of judicial recovery, the reorganization of the debt with its creditors, and the acceptance of Petrobras’ terms by these same creditors. But all of this has suggested that there will be a positive outcome. The original contract was for the construction of 28 rigs, Petrobras cut it down to 26, and thus far, the contractual terms are limited to these 4. Here is the union’s statement below:
“Sete Brasil has taken an important step towards advancing in the judicial recovery it entered into 2 years ago when it acknowledged the debt of 18 billion with creditors.
Yesterday Petrobras, a partner and client of Sete, informed that the state-owned company’s Board of Directors approved terms for a possible agreement within the scope of an extrajudicial mediation that involves the resumption of 4 rigs and the termination of the contracts for the other 24 units spread across Brazil.
Now Sete Brasil needs to present a series of requirements and the creditors need to accept the terms presented by Petrobras for the agreement to finally be closed.
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The trend, if an extrajudicial agreement between Sete Brasil and Petrobras is closed, is that the 4 resumed rigs will be those at the Brasfels and Jurong shipyards – ES, which are the most advanced. We still do not have a definite date for when the resumption of work will start, as there is still a path to follow that could be quick or could take time. However, an important step has been taken since these works have been halted and without direction since 2014. The Union is closely monitoring the situation, and everyone will be informed of any news.
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