Brazil's Petrobras and drilling services company Ensco have agreed a settlement covering claims relating to a cancelled contract for the drillship DS-5.
A dispute between the two developed after a Petrobras' decision to unilaterally terminate the contract in early 2016.
Petrobras justified the decision by invoking a generic anti-corruption clause after Brazil’s Car Wash probe revealed evidence of illegal payments by a representative of Pride International and Ensco to facilitate the signing of the contract and the subsequent construction of the drillship at Samsung Heavy Industries.
