Sapura Energy refutes bribery involvement in Brazil deals

Sapura Energy Bhd and its group of companies strongly refute any involvement in any form of bribery or corruption in its business dealings in Brazil and anywhere else in the world.

The group said this in a media statement in response to recent news on investigations in Brazil involving its company and Seadrill for alleged bribery involvement relating to Petróleo Brasileiro SA (Petrobras) contracts.

“In an earlier investigation by Brazilian authorities in 2016 and 2017, the company was cleared of all allegations of bribery or corruption.

“The company has in the past cooperated and will continue to cooperate with any investigation or regulatory authority in relation to bribery and corruption,” Sapura Energy said in a statement yesterday.

The company noted that it has a strict policy against bribery and corruption and has internal policies and procedures to mitigate this risk.

As part of its governance and processes, the company has a clause in all its agreements on anti-bribery which will make the agreement void if bribery is involved or is suspected to be involved, it said.

“We have in the past taken immediate steps to cease contractual obligations whenever a suspicion of bribery or corruption was raised.

“These facts demonstrate and are clear evidence of our commitment to zero-tolerance policy towards bribery and corruption,” it added.

In a statement, federal prosecutors in Brazil said they had carried out 25 searches, concentrated in Rio de Janeiro and Sao Paulo, describing the operation as an attempt to deepen ongoing probes into three contracts worth US$2.7 billion signed between Sapura and state-run oil firm Petrobras in 2011.

The prosecutors also described an alleged scheme in which a joint venture in Brazil between Sapura Energy and Seadrill allegedly paid bribes worth 1.5 per cent of the contracts it won with Petrobras.

-- BERNAMA