Market Overview

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.

This press release features multimedia. View the full release here:

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

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