South Korea's Daewoo Shipbuilding & Marine Engineering Co. will build more than $1 billion worth of drill ships for Brazil's state-run oil company Petrobras /quotes/comstock/13*!pbr/quotes/nls/pbr (PBR 48.49, +0.19, +0.39%) , people familiar with the matter said Tuesday.
"Daewoo Shipbuilding will sign a contract this week in Brazil, and there will be an official announcement this Friday," one of the people with direct knowledge of the matter told Dow Jones Newswires.
Not counting the Petrobras order, the company has received a mere $1.1 billion worth of new orders for vessels and offshore facilities so far this year as shipping companies have struggled with financial problems to order new vessels amid the economic slowdown, the company said.
It had originally targeted $10 billion in fresh orders in 2009, down 15% from the previous year's $11.8 billion achievement.
"Daewoo Shipbuilding will sign a contract this week in Brazil, and there will be an official announcement this Friday," one of the people with direct knowledge of the matter told Dow Jones Newswires.
Not counting the Petrobras order, the company has received a mere $1.1 billion worth of new orders for vessels and offshore facilities so far this year as shipping companies have struggled with financial problems to order new vessels amid the economic slowdown, the company said.
It had originally targeted $10 billion in fresh orders in 2009, down 15% from the previous year's $11.8 billion achievement.