Petrobras is trying to cancel its contract for hiring a drillship with engineering conglomerate Grupo Schahin, according to Reuters.
Brazil’s troubled state oil firm – trying to cut costs all over because of its huge debt – wants to rescind the contract for the Vitoria 1000 drillship, operating offshore Brazil.
The contract is one of the numerous deals under suspicion of being part of the infamous bribes-for-inflated-contracts scheme that has brought Petrobras to such dire circumstances.
The drillship is the last one Grupo Schahin has in operation as that company too is in a bad financial predicament and is trying to restructure its debt.