Diamond, Petrobras settle lawsuit over early rig contract termination

ocean-valor-rig-photo-by-andy-grzymala-atgphotos-com

Offshore driller Diamond Offshore and Brazilian oil company Petrobras have settled a lawsuit related to an early rig contract termination back from 2016. 

In August 2016, Diamond Offshore Drilling received notice of termination from Petrobras of its drilling contract on the Ocean Valor semi-submersible drilling rig. The drilling contract was originally estimated to conclude in accordance with its terms in October 2018.

Diamond then filed a lawsuit against Petrobras in the 17th Lower Court of Rio de Janeiro Central District.

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