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Petrobras pays $700 million to Vantage Drilling
June 22, 2019
Source: Reuters

Petrobras pays $700 million to Vantage Drilling

Petrobras yesterday said in securities filing about making a payment of $700 million to US oilfield services provider, Vantage Drilling Company. The payment pertains to the termination of a 2015-contract awarded by Petrobras to Vantage. The payment comes after US court decision denied Petrobras’ request to revoke the result of an earlier arbitration in Holland. Petrobras has said that the payment does not imply an end to the litigation.

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