SBM Offshore, a provider of floating production solutions to the offshore energy industry, has informed that the Brazilian authorities have confirmed the settlement regarding bribery probe involving SBM Offshore CEO and member of the supervisory board.
SBM Offshore disclosed in January 2016 that its CEO Bruno Chabas and Supervisory Board member Sietze Hepkema had decided to accept the Public Prosecutor’s proposal for an out-of-court settlement , on a no admission of guilt basis, of the allegations made against them on December 17, 2015.
The settlement was still subject to confirmation by the judge handling the case.
The company has now been informed that the judge has confirmed the settlement, effective April 4, 2016, SBM Offshore said on Wednesday.
To remind, in December 2015, SBM Offshore’s CEO Bruno Chabas and a member of the Supervisory Board Sietze Hepkema appeared on a list of (former) Petrobras executives, and former sales agents and (former) SBM Offshore executives who may be prosecuted in Brazil in relation to a corruption case.
According to Brazilian media, the Brazilian authorities were investigating a scheme involving embezzlement and bribery in Petrobras contracts with SBM Offshore, which allegedly began in 1997 and lasted until 2012.
Offshore Energy Today Staff