Magni is closing in on deal to buy stranded rigs

摘要

MAGNI Partners, the investment company of Borr Drilling founder Tor Olav Troim, is close to reaching a deal with ailing Sete Brasil and its creditors to buy four unfinished ultra-deepwater rigs languishing in two Brazilian yards. Brazilian rig-charterer Sete Brasil was created in 2010 with backing from state-controlled Petro-bras and awarded lucrative longer-term contracts for 28 rigs, as part of an ambitious local-content policy. The rig-building programme collapsed in the midst of Brazil's "Car Wash" corruption scandal, but construction work had already begun at five local shipyards.