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International

Offshore rig construction firm to pay massive $420-million penalty for bribery charges

December 26, 2017 Reprints

Singapore-based offshore rig construction firm Keppel Offshore & Marine Ltd. has agreed to pay a penalty of more than $422 million to resolve bribery charges with authorities in the United States, Brazil and Singapore, World Maritime News reported. Investigations revealed that "KOM made corrupt payments to officials of Brazil-based oil company, Petroleo Brasileiro S.A., and other parties to win contracts with Petrobras and its related companies," said Singapore's Attorney-General's Chambers and the Corrupt Practices Investigation Bureau.

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Offshore rig construction firm to pay massive $420-million penalty for bribery charges

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