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Brazilian oil has agreed a deal with Sete Brasil, a local drilling platform leasing company, to complete the construction and delivery of four drilling RIGS.

Sete Brasil had built 29 RIGS in five Brazilian yards, 28 of which were leased from Brazil, with a daily rental of $344,000 to $357,000, and another for speculation. However, after Sete Braisl became embroiled in a corruption scandal in Brazil and had to stop paying for the money, the five shipyards stopped the construction work in early 2015. Sete Brasil also entered bankruptcy protection in April 2016.

At present, according to the Brazilian oil and Sete Brasil new protocol, Sete Brasil will retain one of the four RIGS charter, and the other 24 charter is terminated, rents for $299000 each rig, lease for 10 years.