Petrobras

Petrobras informs about arbitration of Vantage case

T&B Petroleum/Petrobras Agency
31/08/2020 19:37
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Petrobras, in continuation to the communiqué of 07/17/2020, informs that, as of today, the United States Court of Appeals for the Fifth Circuit has dismissed the appeals filed by the company against the decision issued by this court, on 16 / 07/2020, which, on appeal, confirmed the arbitration award handed down in the arbitration filed by Vantage Deepwater Company and Vantage Deepwater Drilling Inc.

 

The arbitration arose from a drilling services contract obtained through corruption, as revealed by Operation Lava Jato. Although the appeals were aimed at reversing the decision of the aforementioned court, the Petrobras Group companies involved in the litigation had already paid the sentence on 06/21/2019.

 

Thus, today's decision has no financial impact on the company. Petrobras is evaluating the decision, as well as the possibility of filing an appeal, and will continue to adopt all measures aimed at safeguarding its interests.

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