Keppel Offshore Settles Lava Jato Fines Involving Petrobras with the Federal Government After Full Payment of $65 Million to the Union

Written by Ruth Rodrigues

Published on 31/01/2023 at 14:52

Updated on 02/02/2023 at 19:14

Foto: Fernando Frazão/Agência Brasil

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After a leniency agreement reached with the Federal Government in December 2022, Keppel Offshore announced this Tuesday (31/01) the settlement of its fines with the Brazilian state. The company had been involved in corruption proceedings involving Petrobras and a former agent of the company in Operation Lava Jato. It committed to cooperate throughout the process to ensure its integrity.

Payment of US$ 65 Million to the National Government Settles Keppel Offshore’s Fines for Corruption Cases Involving Petrobras and Operation Lava Jato

The offshore oil platform builder from Singapore, Keppel Offshore & Marine, said on Monday that it has made the full payment of fines and damages amounting to around US$ 65 million to the Federal Government.

The payment of the amount occurs under a leniency agreement made with the Attorney General’s Office and the Office of the Comptroller General in December 2022.

ARTICLE CONTINUES BELOW

In Merger Process with Sembcorp Marine, Keppel Offshore Reinforces Its Ethical Principles After Paying the Fines from Operation Lava Jato to the Federal Government

Keppel Offshore collaborated with the Brazilian Government and the Attorney General’s Office and the Office of the Comptroller General throughout the entire corruption accusation process involving Petrobras in Operation Lava Jato.

During its press statement, the company emphasized that it reinforces its ethical principles after settling its debt with the Union.

“Keppel remains committed to maintaining high ethical standards and robust controls across all of its global operations,” it said.

Since December 2017, the company has been working with criminal authorities in Brazil, Singapore, and the United States regarding the corrupt payments made by Zwi Skornicki, its former agent in Brazil.

The company is currently moving toward a merger with Sembcorp Marine after shareholders agreed to the deal last December.

Now, with the payment of the fines to the National Government, Keppel Offshore hopes to leave in the past the involvement of its former agent in Operation Lava Jato with the state company Petrobras.

Keppel Offshore Settles Lava Jato Fines Involving Petrobras with the Federal Government After Full Payment of $65 Million to the Union

Payment of US$ 65 Million to the National Government Settles Keppel Offshore’s Fines for Corruption Cases Involving Petrobras and Operation Lava Jato

In Merger Process with Sembcorp Marine, Keppel Offshore Reinforces Its Ethical Principles After Paying the Fines from Operation Lava Jato to the Federal Government

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Keppel Offshore Settles Lava Jato Fines Involving Petrobras with the Federal Government After Full Payment of $65 Million to the Union

An Agreement Between the Federal Government and the Offshore Operator Had Been Reached for the Payment of Fines Related to the Corruption Scandal in Operation Lava Jato. Keppel Offshore Announced the Full Payment of US$ 65 Million Due to the Case with Petrobras.

Payment of US$ 65 Million to the National Government Settles Keppel Offshore’s Fines for Corruption Cases Involving Petrobras and Operation Lava Jato

In Merger Process with Sembcorp Marine, Keppel Offshore Reinforces Its Ethical Principles After Paying the Fines from Operation Lava Jato to the Federal Government

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