No end in sight for baffled O&M firms grappling with Sete Brasil conundrum

Resolutions due this October are still nonexistent.

Negotiations with the Brazilian rig builder has generated nothing but steam as Singapore’s O&M firms Keppel and SembMarine scratch their heads wondering if the resolutions would materialise before the end-October deadline.

According to UOB Kay Hian, both firms have affirmed that talks are still on-going with Sete Brasil, and that they are still expecting the talks to come to fruition before November.

“Keppel opined that an agreement might be reached by end-October, while SMM said Sete Brasil was close to finalising terms,” UOB Kay Hian said.

Meanwhile, UOB Kay Hian says no definite resolution has been reached on the issue.

“The completion status of the rigs remained largely unchanged,” they said.