Sembcorp in talks with Sete Brasil over delayed payments

The latter now owes around $70-80m.

A corruption scandal at Brazil’s state-run oil company Petrobras is dragging Singapore’s rig builders into the muck.

Wong Weng Sun, Sembcorp president and chief executive, told reporters and analysts at a briefing that Sete Brasil now owes the company S$70-80 million ($51-$59 million).

Sembcorp Marine has won seven drillship orders, each worth about $800 million, from Sete Brasil, a company set up by Brazil's national oil company Petrobras, along with a group of banks and funds, to develop a deep-water drilling rig fleet for Petrobras.

View the full report here.

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