Petrobras Cancels Tender to Buy 21 Offshore Rigs

SAO PAULO (Dow Jones Newswires), Dec. 22, 2011

Brazil's government-run oil company, Petroleo Brasileiro SA on Thursday said it has canceled a much-delayed tender to buy 21 offshore drill rigs, and will instead open direct negotiations with two suppliers.

"The company will immediately begin negotiations with the two proponents, Ocean Rig do Brasil Ltda and Sete Brasil Participacoes S.A., with the objective of securing the best conditions," Petrobras said in a statement.

Petrobras didn't provide any reasons for the change of plan. The drill rigs are scheduled to be built in Brazil.

Earlier this year, Petrobras signed a separate contract with Sete Brasil to build a lot of seven offshore drilling rigs. That deal was the first tender in a broader 28-rig order planned by the company.

Copyright (c) 2011 Dow Jones & Company, Inc.


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Edmund Fitch | Dec. 23, 2011
Looks like Petrobras is finally waking to the cost of the operation they have and money doesnt gush out of oil wells.

Jim kennedy | Dec. 22, 2011
Petrobras need to just stay in the oil company business, let the contractors take the risks, maintain insuarance liabilities and supply rigs and crews, Ive been around a few oil companies that wanted to own their own rigs and was a disaster, with far less safety conditions and always a fight whom was in charge.

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