Sembcorp Marine to Contest EIG Management's Claim in U.S. Legal Suit



Singapore's Sembcorp Marine Ltd. announced Thursday that the company and its subsidiary Jurong Shipyard Pte Ltd. have been served with summons in a legal suit filed by EIG Management Co. in the U.S. District Court, District of Columbia pertaining to the latter's investments of over $221 million in Sete Brasil Participacoes SA.

The rig builder, along with other shipyards and other entities -- including another Singapore's firm Keppel Corp. Ltd. and its subsidiary Keppel Offshore & Marine Ltd. -- have been named as defendants in the suit filed by EIG Management against Petroleo Brasileiro (Petrobras) over its investment in Sete Brasil.

"We believe that the claim is baseless and without merit, and will rigorously contest the claim," Sembcorp Marine said in a press release.

Sembcorp Marine's subsidiaries had in 2012 entered into contracts with subsidiaries of Sete Brasil to construct seven drillships.



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