Seadrill Limited gives up on $1.1 bln Petrobras contracts

Seadrill Limited says that in November, 2014 Petrobras approval had been received for the extensions of its ultra-deepwater semi-submersibles the West Taurus and West Eminence. Due to recent developments within Petrobras, the Company no longer believes the contracts will be concluded in the timeframe or on the previously approved commercial terms.