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Sbm Offshore Leniency Agreement

Sbm Offshore Leniency Agreement

In 2017, Brazil has played an important role in the global implementation of the fight against corruption. During the year, the largest leniency agreement in Brazil`s history was signed and the second largest was ratified by Brazilian courts…. CGU, AGU and Petrobras expressed their support for this additional agreement with MPF. The 2016 agreement was worth the same amount as the one currently being discussed by the parties, and he also reportedly saw that $328 million of the deal would have been handed over to Petrobras. It is not known whether the current agreement contains the same agreement. The agreement also provides for a 95% reduction in future performance bonuses related to FPSOs Cidade de Anchieta and Capixaba`s leasing and operating contracts, which corresponds to an agreed face value of approximately $180 million for the period 2016-2030. Erik Lagendijk, Head of Governance and Compliance and a member of the Board of Directors, said: “We are delighted to have reached an agreement with Petrobras and the Brazilian authorities which, following the recent agreement with Petrobras and the Brazilian authorities, eliminates the uncertainties surrounding the risks of subsequent lawsuits related to our historical charges in Brazil.” SBM Offshore provides floating production solutions for the offshore energy industry throughout the product lifecycle. The company is the leader in floating rental production systems that have been delivered to date, with several units currently in service, and has unrivalled operational experience in this area. The company`s main activities are the planning, supply, installation, operation and lifespan of floating production solutions for the offshore energy industry. As of December 31, 2017, the group`s companies employ approximately 4,800 people worldwide. The main company`s staff, with a total duration of approximately 4,300, is located in offices located in key markets, operational coastal bases and the fleet of ships at sea.

Another 500 work for joint ventures with two yards. For more information, please visit our website at www.sbmoffshore.com. SBM Offshore signed its first leniency communication on the case in 2014, when it reached a $240 million agreement with the Dutch prosecutor`s office. With the announcement of the U.S. agreement, SBM Offshore spent $475 million to cover the colonies. This figure could exceed $800 million if SBM Offshore signs a leniency agreement in Brazil on the figure currently proposed. Under Brazil`s anti-corruption law, leniency agreements are offered to entities that have committed illegal acts but have not done so and have cooperated effectively with investigations and administrative procedures. Petrobras said it received 425 million reais ($112.3 million) in leniency contracts and repatriation by Brazil`s federal prosecutor. Following the announcement by the company on 26 July 2018 of a leniency agreement with the Brazilian authorities CGU (Ministério da Transparéncia e Controladoria-Geral da Unio- “CGU”) and AGU (Advocacia Geral da Unio – “AGU”) and Petréleo Brasileiro S.A.

2021-04-12T04:05:38+00:00