Petrobras responds to hints of oil drilling contract cancellations

Source:Petrobras

In regard to the news items carried by the press concerning the leasing of oil rigs, Petrobras cannot confirm that it is about to sign a 15-year lease covering 19 oil rigs, amounting to US$ 40 billion.

In regard to the news items carried by the press concerning the leasing of oil drilling rigs, Petrobras cannot confirm that it is about to sign a 15-year lease covering 19 oil drilling rigs, amounting to US$ 40 billion.

As we indicated on September 9, Petrobras currently has 28 leasing contracts for oil drilling rigs with Sete Brasil. Contracts for seven rigs were signed in June 2011 and for 21 rigs in August 2012, totaling  US$ 89 billion. Five rigs are to be delivered within 10 years, 21 in 15 years and a further 2 rigs in 20 years.

Negotiations are in progress for a possible realignment of the total number of rigs ordered, as requested by Sete Brasil.

The Company strongly denies the allegation that it is “going over the heads of technical areas and even some senior management members” and would like to make it clear that approval for any subsequent amendment of the above contracts will be subject to corporate rules of governance and compliance, as well as approval by the competent authorities.

The Company has alerted that media that it will inform the market in due course of any developments deemed relevant to this matter.



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