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Singapore Oil Rig Builder Keppel to Pay $422 Million for Bribes to Secure Petrobas Contracts

Singapore Oil Rig Builder Keppel to Pay $422 Million for Bribes to Secure Petrobas Contracts

Singapore based Keppel Offshore & Marine has agreed to pay $422 million to 3 jurisdiction (Brazil, United States and Singapore) to end a U.S. bribery probe for bribery and corrupt payments.  The bribes were made to officials at Petrobas (Petroleo Brasileiro SA.) and the then-governing political party to secure contracts with Petrobas (Petroleo Brasileiro SA.)

“Keppel Offshore & Marine to Pay $422 Million to end U.S. Bribery Probe ”

Keppel Offshore & Marine is a Singapore based company and is the world’s largest oil rig builder while Petrobas is Brazil’s state-owned oil company and is one of the world’s largest oil producer producing more than 2.1 million barrels a day.

Source: Kepcorp, Bloomberg, Reuters

 

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About Keppel Offshore & Marine

Keppel Offshore & Marine is the global leader in offshore rig design, construction and repair, ship repair and conversion, and specialised shipbuilding.  Headquartered in Singapore, we integrate and harness the experience and expertise of 20 yards and offices worldwide to be near our customers and markets.

Visit: Keppel Offshore & Marine

 

About Petrobas

We are a publicly-held company operating on an integrated basis and specializing in the oil, natural gas and energy industry.  We are present in the exploration and production, refining, marketing, transportation, petrochemicals, oil product distribution, natural gas, electricity, chemical-gas and biofuel segments.

Visit: Petrobas

 


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