Ocyan’s drilling subsidiaries’ extrajudicial restructuring plan was approved by the 4th Business Court of the Judicial District of Rio de Janeiro, Brazil.

27/03/2023

Ocyan’s drilling subsidiaries’ extrajudicial restructuring plan was approved by the 4th Business Court of the Judicial District of Rio de Janeiro, Brazil.

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Ocyan S.A. (f/k/a Odebrecht Óleo e Gás S.A.) (“Ocyan”) and certain subsidiaries announce that on March 20, 2023, the 4th Business Court of the Judicial District of Rio de Janeiro, Brazil entered an order confirming the extrajudicial restructuring plan (“EJ Plan”) filed on December 12, 2022, with respect to certain subsidiaries of Ocyan S.A. as debtors. Once consummated, the EJ Plan will implement the financial and organizational restructuring of Ocyan’s drilling business.

Press Release

Ocyan’s drilling subsidiaries’ extrajudicial restructuring plan was approved by the 4th Business Court of the Judicial District of Rio de Janeiro, Brazil.