November 2nd, 20180McDermott International has been award by Petrobras for a natural gas pipeline project at the Santos basin pre-salt field program. The contract is for the implementation of the ultra-shallow segment of the new Rota 3 gas export pipeline, and includes design and detailed engineering, procurement, construction and installation of 10 km...
September 28th, 20180Brazilian energy major Petrobras has agreed to pay a combined total of $853.2m in penalties to resolve the US government’s investigation into violations of the Foreign Corrupt Practices Act (FCPA) in connection with Petrobras’s role in facilitating payments to politicians and political parties in Brazil, as well as a related...
August 27th, 20180PACC Offshore Services Holdings (POSH) has been awarded a contract by Brazil’s Petrobras for semi-submersible accommodation vessel . The 750-person accomodation vessel will be supporting production activities in the Campos Basin for a firm period of eight months, with an option for a further eight months. The contract will commence...
August 17th, 20180Petrobras and Ensco have agreed to a settlement of all claims relating to the 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...
July 3rd, 20180Offshore driller Vantage Drilling has been successful in its arbitration with Brazil's Petrobras with an international arbitration tribunal awarding in its favour. The tribunal found that Petrobras breached an agreement for the provision of drilling services for drillship and awarded Vantage Drilling damages in the amount of...
June 26th, 20180Brazil’s troubled state oil firm Petrobras announced on Monday it has obtained approval for a $2.95 billion deal to settle a securities class-action lawsuit in the US, according to Reuters. The suit was brought by investors in the US District Court, Southern District of New York. It pertained to the massive...
June 2nd, 20180Pedro Parente, chief executive of Brazil’s state oil firm Petrobras, resigned from the post unexpectedly on Friday, according to Reuters. His move followed the national government’s recent intervention in Petrobras’ fuel pricing policy because of the turmoil caused by a truck drivers’ strike. Truckers have been on strike...
May 17th, 20180Brazilian authorities are likely to grant troubled state oil firm Petrobras between a billion and two billion barrels of oil in a bid to settle a long-running dispute about offshore reserves, according to Reuters citing a Brazilian newspaper source. Talks about the so-called “transfer of rights” area in a part of the oil-rich...
May 6th, 20180Charges against Norwegian offshore driller Sevan Drilling have been dismissed after a probe by the country’s anti-corruption body into allegations linked to the Petrobras affair. Okokrim, Norway’s authority for the investigation and prosecution of economic and environmental crime, had been investigating drilling contracts that...
April 10th, 20180Brazil’s former national President Luiz Inacio Lula da Silva has been admitted to jail in Curitiba, southern Brazil, pending an appeal of his conviction for charges of corruption in connection to the Petrobras probe. Lula, who served two terms (2003-2011) in the highest office in the land, is a charismatic socialist whose appeal is...
