Aug 16, 2018   SOURCE: BusinessWire

Petrobras and Ensco Announce Settlement Agreement

Petrobras and Ensco announce today that they have agreed to a settlement of all claims relating to the ENSCO DS-5 drilling services agreement.

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While the terms of the agreement are confidential, no payments will be made by either party in connection with this settlement.

The parties also agreed to normalize business relations. As a result, the agreement provides for Ensco's participation in current and future Petrobras tenders on the same basis as all other companies invited to these tenders.

About Ensco:

Ensco brings energy to the world as a global provider of offshore drilling services to the petroleum industry. For more than 30 years, the company has focused on operating safely and going beyond customer expectations. Ensco is ranked first in total customer satisfaction in the latest independent survey by EnergyPoint Research – the eighth consecutive year that Ensco has earned this distinction. Operating one of the newest ultra-deepwater rig fleets and a leading premium jackup fleet, Ensco has a major presence in the most strategic offshore basins across six continents. Ensco plc is an English limited company (England No. 7023598) with its corporate headquarters located at 6 Chesterfield Gardens, London W1J 5BQ. To learn more, visit our website at www.enscoplc.com.