Norway's Aker Solutions has no payment issues with scandal-hit Petrobras -CEO
LONDON, March 17 (Reuters) - Norwegian oil services company Aker Solutions may move some of its orders from troubled Petrobras to next year but continues to receive regular payment for work done, Chief Executive Luis Araujo said on Thursday.
Brazil's Petrobras has been shaken by a multibillion-dollar corruption scandal, which has toppled management and forced the company to curb spending as it calculates losses and re-examines contracts.
Aker Solutions, which is monitoring Brazilian payments closely, said the bulk of its orders with state-controlled Petrobras are related to projects that are continuing to progress, even as the company delays some of its investments.
"I think the whole industry is worried about Petrobras right now," Araujo told Reuters on the sidelines of a presentation. "We have discussed moving some backlog in collaboration with Petrobras for next year. It's part of the game.
"So far we have not seen any delays in payment from them. We don't expect that to change, but we will remain vigilant to make sure that we are payed."
North Sea-focused Aker Solutions, which has about 11 percent of its contract backlog in Brazil, warned earlier on Tuesday that market uncertainty has increased as energy companies cut back investments after the more than 50 percent drop in oil prices. (Reporting by Joachim Dagenborg; Editing by David Goodman)
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