Beleaguered Brazilian energy major Petrobras is hawking off a pair of drilling platforms for as little as $20m. Petrobras originally paid $680m to corrupt construction conglomerate Odebrecht for the two platforms.
The platforms, P-59 and P-60, were built by Odebrecht and Queiroz Galvao in what has since turned out to be part of a massive corruption scam. Odebrecht’s CEO, Marcelo Odebrecht, is serving a 19-year prison sentence for paying bribes for lucrative contracts like these two deepwater jackups.
The two platforms were the first of their kind built in Brazil in 30 years.
With debts among the highest of any publically traded company in all of the Americas, Petrobras has initiated a fire sale of assets to stay afloat.