PRESS RELEASE

Petrobras and Ensco Announce Settlement Agreement

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Thursday, August 16, 2018

Joint press release from Petrobras and Ensco

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

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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.