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Keppel reaches settlement with Sete Brasil on semisubmersible drilling rigs

Stanislaus Jude Chan
Stanislaus Jude Chan10/7/2019 07:57 AM GMT+08  • 3 min read
Keppel reaches settlement with Sete Brasil on semisubmersible drilling rigs
SINGAPORE (Oct 7): Keppel Offshore & Marine (Keppel O&M) has finally reached a settlement with Sete Brasil over the long outstanding issue surrounding the construction of six semisubmersible drilling rigs.
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SINGAPORE (Oct 7): Keppel Offshore & Marine (Keppel O&M) has finally reached a settlement with Sete Brasil over the long outstanding issue surrounding the construction of six semisubmersible drilling rigs.

Keppel O&M announced Monday that wholly-owned subsidiaries Fernvale and FELS Offshore have entered into a settlement agreement with subsidiaries of Sete Brasil, including Urca, Frade, Bracuhy, Portogalo, Mangaratiba and Botinas.

The settlement agreement is in relation to the Engineering, Procurement and Construction (EPC) contracts for the construction of six semisubmersible drilling rigs for these six Sete Brasil subsidiaries.

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