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Petrobras and Ensco announce today that they have agreed to a settlement of all claims relating to the ENSCO DS-5 drilling services agreement.
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.