Petrobras and Ensco have agreed to a settlement of all claims relating to the Ensco DS-5 drilling services agreement.
While the terms of the agreement are confidential, no payments will be made by either party in connection with this settlement.
The parties also agreed to normalise business relations. As a result, the agreement provides for Ensco’s participation in current and future Petrobras tenders on the same basis as all other companies invited to these tenders.
Petrobras, hit by a massive multi-billion dollar fraud, has been mending fences with a number of business partners in recent weeks.