Petrobras Cancels Ocean Rig Contracts

Petrobras reported Thursday it has cancelled the process of contracting five drilling rigs, capable of drilling in up to 9,842 feet (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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