Vantage Drilling International announced that it was successful in its previously disclosed arbitration with Petróleo Brasileiro S.A. (“Petrobras”).  An international arbitration tribunal issued an award in favor of Vantage Deepwater Company and Vantage Deepwater Drilling Inc., both wholly-owned subsidiaries of Vantage.  The Tribunal found that Petrobras America Inc. (“PAI”) and Petrobras Venezuela Investments & Services, BV (“PVIS”), both subsidiaries of Petrobras, breached the Agreement for the Provision of Drilling Services for the Titanium Explorer dated February 4, 2009 (the “Drilling Contract”) between PVIS and Vantage Deepwater Company and which had been novated to PAI and Vantage Deepwater Drilling Inc.  The Tribunal awarded Vantage Deepwater Company and Vantage Deepwater Drilling Inc. damages in the amount of $622.02 million against PAI, PVIS, and Petrobras and dismissed the Petrobras entities’ counterclaims against Vantage with prejudice. On August 31, 2015, PAI and PVIS notified Vantage of the termination of the Drilling Contract, claiming Vantage had breached its obligations under the Drilling Contract.  Vantage immediately filed the international arbitration claim against PAI, PVIS, and Petrobras, claiming wrongful termination of the Drilling Contract.