Diamond Offshore wins court case against Petrobras

Photo by: Andy Grzymala ATGphotos.com

Offshore driller Diamond Offshore has made a step forward in a court case against Petrobras, stemming from an early rig contract termination last year.

Petrobras terminated the contract for the Ocean Valor rig in August 30, 2016. The drilling contract was originally estimated to conclude in October 2018.

Diamond Offshore then, a day later, on August 31, 2016, filed a lawsuit against Petrobras in the 17th Lower Court of Rio de Janeiro Central District, claiming that Petrobras’ purported termination of the contract was unlawful and asking the court to order Petrobras to continue to comply with its obligations under the contract and to pay monetary damages for its unlawful termination.

On September 13, 2016, the presiding judge in the case issued a preliminary injunction, suspending Petrobras’ termination of the contract and ordering that the contract remain in effect until the end of the contract term or further court order. As a result of the injunction, the contract remained in effect and was not terminated.

On October 4, 2016, Petrobras filed an appeal, requesting that the injunction order be overturned.

According to Diamond Offshore, the presiding panel of appellate judges on Wednesday, March 15, 2017, ruled unanimously against Petrobras’ appeal and upheld the injunction. As a result of the favorable ruling, the injunction and the Ocean Valor contract each remain in effect.

Petrobras has the right to seek to appeal the ruling to the Superior Court of Justice.

Share this article

Follow Offshore Energy Today

Posted on March 17, 2017

Events>

<< May 2018 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

2nd AFRICA OIL & GAS LOCAL CONTENT CONFERENCE AND EXHIBITION

The 2018 programme has been created around the outcomes and recommendations of the previous, highly successful event, and will focus…

read more >

25th Anniversary International Caspian Oil & Gas Conference

In 2018, the largest oil and gas event in the Caspian Region – the Caspian Oil & Gas Exhibition and Conference Incorporating Refining…

read more >

7th Oil and Gas Kenya 2018 Products & Eqpt. Exhibition in Africa

The 07th Oil & Gas Africa – Int’l Trade Exhibition, 29 – 31 May, 2018, is a hub for key players in the oil and gas…

read more >

FPSO Brazil Congress 2018

This is the first and only conference dedicated to the entire lifecycle of the Brazilian FPSO industry…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply