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SÃO PAULO – Petrobras lost a dispute in an international arbitration tribunal filed by Vantage International Drilling, which questioned the termination of a drilling contract in August 2015. [19659002] Second statement issued by Vantage the arbitral tribunal granted the company and determined that Petrobras will have to pay compensation of $ 622 million to the probe provider.
The amount is higher than that provided by the company on its last form 20-F
The loss was not provisioned in the balance sheet of the company
Petrobras had signed a contract of 1 , $ 6 billion with Vantage to provide the eight-hour probes. years until 2020. In 2015, however, the state oil company canceled the contract, claiming that Vantage had breached its obligations.
Vantage was involved in the investigation of the Lava-Jet operation.
After being notified of the termination of the contract, Vantage filed a lawsuit against Petrobras in an international arbitration tribunal. Petrobras America and Petrobras Venezuela Investments & Services were also cited in the lawsuit.
According to a statement by Vantage, the court dismissed the petitions filed by Petrobras. When the contract was terminated, there were still five and a half years, services valued at 1.1 billion US dollars.
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