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Overruns, recklessness riddle Petrobras Comperj project

Overruns, recklessness riddle Petrobras Comperj project - audit

HOUSTON (ICIS)--Petrobras's Comperj project is riddled with delays, cost overruns and reckless management, a state audit found, as it listed numerous modifications that raised the cost of the project from $6.1bn to nearly $50bn.

Petrobras said on Monday that it was not commenting on the audit since it was still awaiting final analysis by the Brazilian Federal Accounting Court (TCU), the entity that conducted the review.

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