Vantage Drilling awarded $622m in arbitration with Petrobras

Vantage Drilling awarded $622m in arbitration with Petrobras

Offshore 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 Titanium Explorer and awarded Vantage Drilling damages in the amount of $622.02m.

Ihab Toma, CEO of Vantage Drilling, commented: “We are very pleased with the Tribunal’s decision to enforce our drilling contract with Petrobras. Above all else, we remain focused on providing superior drilling services to our clients.”

Vantage Drilling has a fleet of three drillships and four jackup rigs.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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