Petrobras Cancels Negotiations for Five Drilling Rigs

Petrobras has cancelled the process of contracting five drilling rigs, capable of drilling in up to 3,000 meters of water, with the Ocean Rig Group.

This decision is based on the reduction of future needs for drilling, due to a fewer number of wells expected to be drilled in the pre-salt Santos Basin, relating to a higher productivity gained through the project wells in that area.

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Petrobras, November 30, 2012; Image: Ocean Rig