Scandoil  

Transocean Ltd. announces settlement of two frade civil cases


Published Sep 20, 2013
[an error occurred while processing this directive]

Edit page New page Hide edit links

Transocean bags contract for drillship Discoverer Spirit

Transocean Ltd., along with Chevron, the Brazilian Federal Prosecutor's Office, Agência Nacional do Petróleo, Gás Natural e Biocombustíveis (ANP) and Instituto Brasileiro do Meio Ambiente e dos Recursos Naturais Renováveis (IBAMA) announced a settlement resolving the two civil cases arising from the November 2011 and March 2012 Frade field events. The agreement effectively releases Transocean, without a finding of fault or liability, from the two civil lawsuits in which it is named.

Further, Transocean has no financial obligations under the settlement agreement. Upon its approval by the court, the settlement terms will be binding on all parties and the two civil lawsuits will be dismissed. In February, the court rejected all criminal indictment recommendations related to Transocean and its employees.

"We are pleased to announce this settlement, a very favorable resolution resulting from hard work of all the parties involved," said Steven L. Newman, President and Chief Executive Officer of Transocean Ltd. "Transocean has operated in Brazil for nearly 50 years, and this agreement among Chevron, Transocean and the Brazilian authorities removes any remaining uncertainty about our ability and commitment to continue working safely and responsibly offshore Brazil."

Tags: Transocean Ltd.




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml