Former Petrobras Exec Sentenced over Vantage Drilling Contract
A Brazilian judge sentenced the former head of state-run oil company Petrobras' international division to 12 years and two months in jail for corruption and money laundering on Monday, part of the country's largest-ever graft investigation. Federal judge Sergio Moro said Jorge Zelada had unduly awarded U.S. company Vantage Drilling a 2009 contract with Petrobras for the drillship Titanium Explorer in exchange for bribes stashed in undeclared accounts in Monaco and Switzerland.
Vantage Drilling Company Announces Agreement to Provide Construction Management Services for Two Aker Drilling Ultra Deepwater Drillships
Vantage Drilling Company ("Vantage, or the "Company") (NYSE Amex: VTG.U) (NYSE Amex: VTG) (NYSE Amex: VTG.WS) today announced that it has signed a definitive agreement to provide services related to design, construction and commissioning on behalf of Aker Drilling ASA ("Aker Drilling") of two Ultra deepwater drillships being built at Daewoo Shipbuilding & Marine Engineering Co., Ltd. ("DSME") shipyard in Okpo, Korea. The high specification drillships of DSME design will be equipped for dual activity operations in water depths down to 12,000 feet and with drilling depths of 40,000 feet.