Houston-based Diamond Offshore Drilling has filed an injunction against Brazil’s state oil company Petrobras over the early termination of a rig contract.
The contract for the Ocean Valor semi-submersible rig was supposed to run until October 2018 but was terminated on August 30. It had been costing Petrobras $455,000 per day.
semi-submersible rig was supposed to run until October 2018 but was terminated on August 30. It had been costing Petrobras $455,000 per day.Petrobras is the world’s most indebted oil company and is at the epicenter of a huge, complex corruption case involving bribes for inflated contracts.
The injunction means the rig could continue to work while the legal case plays out.
Last November NYSE-listed Diamond Offshore had agreed on the early termination of two other rig contracts with Petrobras. But that deal included the Ocean Valor deal being extended.
