Diamond Offshore Wins Petrobras Drilling Deals

2 March 2010 (Last Updated March 2nd, 2010 18:30)

Diamond Offshore Drilling said it has won drilling contracts with Brazil's Petrobras worth as much as $1.36bn, as well as potential bonus payments. The contracts for three floating drilling rigs include a three-year deal for the ultra-deepwater semisubmersible Ocean Valor, a three-year

Diamond Offshore Drilling said it has won drilling contracts with Brazil's Petrobras worth as much as $1.36bn, as well as potential bonus payments.

The contracts for three floating drilling rigs include a three-year deal for the ultra-deepwater semisubmersible Ocean Valor, a three-year deal for the deepwater semisubmersible Ocean Baroness, and a five-year deal for the deepwater drillship Ocean Clipper.

Diamond also said Petrobras will use the Ocean Courage in Brazil late in the second quarter, rather than in the Gulf of Mexico as previously planned.

Yesterday, Diamond Offshore shares fell 49¢ to $87.09 in afternoon trading. US traded shares of Petrobras rose 14¢ to $16.26.