Petrobras and Ensco enter into an agreement regarding the DS-5 drilling rig

Contract between the two oil companies is related to judicial drilling services that were in dispute, neither of the two will pay compensation

“Petrobras and Ensco announce today that they have agreed to settle all claims related to the ENSCO DS-5 drilling services contract,” Ensco said. In January 2016, Petrobras canceled a drilling contract with Ensco for the drillship DS-5, over corruption allegations. The drillship was contracted by Petrobras through Pride International, a company that Ensco took over in 2011.

In its cancellation notice in January 2016, Petrobras alleged irregularities in relation to the contracting of the drillship DS-5 prior to the acquisition of Ensco in 2011.

UP TO 90% OFF

Electronics, fashion and lifestyle with unmissable discounts in May 2025

Buy

The alleged irregularities allegedly involved a former Pride third-party marketing consultant to provide services in connection with the DS-5 drilling services contract.

At the time, Ensco said there was no evidence that "Pride, the Company or any current or former employees were aware of or involved in any wrongdoing."

Petrobras alleged that Pride was aware that the DS-5 shipbuilder made improper payments to the former third-party marketing consultant who shared the improper payments with former Petrobras employees, and that Pride may have aided or facilitated those payments. individuals.

In a statement released Thursday, Ensco said the terms of the agreement were confidential, adding that "no payments will be made by either party in connection with this agreement."

It added: “The parties also agreed to normalize trade relations. As a result, the agreement provides for Ensco's participation in current and future Petrobras auctions on the same basis as all other companies invited to these auctions”.

As for the driller behind the now-resolved brawl, Bassoe Analytics data shows the rig was cold stacked in Spain.