Under the terms of that settlement, the Dutch company agreed to pay a close-out sum of $152.3 million. A portion of this total, amounting to $55.7 million, was withheld pending a final decision from the Brazilian court, the company stated.
The court issued its final decision regarding the P-54 contract in November 2023. Seatrium asserted that the basis for withholding the funds is no longer applicable, yet Petrobras Netherlands has continued to retain the payment.
Petróleo Brasileiro Corporation (Petrobras), the parent company of the Dutch entity, issued a demand letter to the shipyard claiming $135.3 million in alleged overpayments. After deducting the withheld amount, the Brazilian corporation requested a net payment of $79.6 million from the subsidiary.
