Poised to become the largest single offshore market in the world, Brazil is undergoing a major boom cycle, with multinational operator Petrobras leading the way. The company has a reported investment of more than $224 billion over the next five years. It also announced earlier this year that it had awarded seven contracts for newbuild deepwater rigs to Brazilian shipyard Estaleiro Atlantico Sul (EAS) and was in the bidding process to award 21 more.
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