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Shipyards will resume hiring: Petrobras has begun negotiations with Sete Brasil

Written by Paulo Nogueira
Published 05/03/2018 às 09:58

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Petrobras and Sete Brasil reach agreement

Disclosed with great euphoria by the Metallurgist Unions of Angra dos Reis, this news encourages the Brasfels and Jurong shipyards and could generate thousands of jobs this year

the return of shipyards in Angra dos Reis and Jurong now they are more likely to resume construction contracts than a few years ago, before the whole crisis that hit the Brazilian naval sector. It so happens that Petrobras started negotiations this week with Sete Brasil for operations at the Brasfels and Jurong shipyard for 4 more drilling rigs. According to the state-owned company's evaluation, Sete Brasil has ample conditions to carry out the works for these units, but before that, it needs to solve some bureaucratic pendencies.

The first is the question of judicial recovery, the reorganization of the debt with its creditors and the acceptance of Petrobras' terms by these same creditors. But all this hinted that there will be a positive outcome. The original contract was for the construction of 28 rigs, Petrobras cut 26 and so far, the contractual terms boil down to these 4. See the union statement below:

“Sete Brasil took an important step towards advancing in the judicial recovery it entered 2 years ago when it recognized the debt of 18 billion with creditors. 
Yesterday, Petrobras, partner and client of Sete, informed that the Board of Directors of the state-owned company approved terms for a possible agreement within the scope of an extrajudicial mediation that is the resumption of 4 rigs and ending the contract of the other 24 units spread throughout 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.

The tendency, if an out-of-court agreement is closed between Sete Brasil and Petrobras, is that the 4 rigs retaken are those at the Brasfels shipyard and Jurong shipyard – ES, which are the most advanced. We still don't have a certain date of when the resumption of works will begin as there is still a way to go that can be fast or it can be time consuming. But there was a very important step because since 2014 these works had been stopped and without destination. The Union is following closely and any and all news everyone will be informed.”

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Paulo Nogueira

With a technical background, I worked in the offshore oil and gas market for a few years. Today, my team and I are dedicated to bringing information from the Brazilian energy sector and the world, always with credible and up-to-date sources.

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