Petrobras to Be Sued by Brazilian Law Firm in Vitória 10,000 Drill Ship Case, Which Became an Iconic Case in the Oil and Gas Sector

Marin Hires Brazilian Law Firm To Address The Corruption Scheme Involving Shahin And Petrobras In Fraudulent Oil And Gas Contracts

The Anglo-American company Marin Holding International hired the law firm Luzone Legal, specialized in corporate law and the oil and gas sector, to sue Petrobras for the damages it incurred from the services provided on the Sonda Vitória 10,000 vessel. This case is one of the most emblematic in the oil and gas sector due to a massive corruption scheme involving Shahin and Petrobras.

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As noted in the criminal processes against the executives of both companies, negotiations for the contracts for the operation of the Vitória 10,000 began between the Schahin Group and Petrobras’ international division when the state-owned company opted to use the Vitória 10,000 for exploration of Block BM-S 9, located in the Campos Basin, signing two contracts: one for the chartering of the vessel with Deep Black Drilling LLP, offshore of the Schahin Group, and another for drilling services with Schahin Engenharia Ltda.

However, an accident with the BOP and RISER of the drillship halted all operations, which only resumed after the recovery of the equipment carried out by the British company Marin, which is one of the most specialized in this type of service worldwide. However, due to the developments of Operation Lava Jato, Shahin ceased to pay the full amount for the services rendered to Marin and had its bankruptcy declared by the São Paulo court.

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MPF Investigations Into This Case Involving Petrobras And Schahin

According to the Federal Public Ministry, Schahin, in collusion with former executives of Petrobras, committed crimes of corruption, fraudulent management of a financial institution, and money laundering. The accusation also asserts that the executives of Banco Schahin granted a loan to José Carlos Costa Marques Bumlai, although the real recipient of the funds was the Workers’ Party, due to the directing of the Schahin Group’s hiring for the operation of the Vitória 10,000.

Simultaneously, executives of the Schahin Group paid bribes, in accounts abroad, to managers of Petrobras’ international division. With the interruption of payments that Schahin was receiving due to the operation of the Vitória 10,000 and the subsequent seizure of this drillship by Petrobras, the companies of the Schahin Group, which were already under judicial recovery proceedings, ultimately had their bankruptcy decreed by the São Paulo court, causing losses to several creditors, including Marin.

As explained by attorney Leandro Luzone, managing partner of Luzone Legal, Petrobras will be sued to compensate Marin for its losses precisely because it was an integral part of the corruption scheme. “Marin was a victim of a serious corruption scheme practiced by Schahin and Petrobras. Therefore, the state-owned company must be held accountable. The actions of its agents caused a multimillion-dollar loss to our client,” says Leandro Luzone.

The case of the drillship Sonda Vitória 10,000 will be judged by the Court of Justice of Rio de Janeiro and is just another chapter in the history of Operation Lava Jato, which left the country shocked and tarnished Petrobras’ reputation. Only justice will now say whether the Brazilian state-owned company will be held accountable for the acts of corruption committed by its executives in a process that may take several years to conclude.

Source: Luzone Legal