Petrobras blocked from terminating drillship contract with Schahin
The decision was handed down on Tuesday by Judge Marcelo Barbosa Sacramone, of the 2nd Bankruptcy and Recovery Court of the State of São Paulo.
Petrobras terminated the contract in late October 2016, alleging that the supplier was delaying the payment of financing obtained from the oil giant for the construction of the drillship.
In its ruling, Sacramone argued that Schahin was notified of the termination on October 31, less than 30 days after the collection of that month’s debt, of $2.1 million, considered a breach of contractual terms.
The Vitoria 10000 drillship is considered fundamental in Schahin's judicial recovery plan.
The engineering firm had six charter contracts signed with Petrobras, but five of them were already terminated by the state-owned oil company in 2016. ■