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The Oilfield Services Company TechnipFMC Agreed to Pay US$ 301.3 Million to U.S. and Brazilian Authorities to Resolve Corruption Investigations in Brazil Related to the Intermediary, Unaoil for Bribes Paid to Brazilian Authorities in Exchange for Contracts.
TechnipFMC agreed to the resolutions of the U.S. Department of Justice (DOJ), the Securities and Exchange Commission (SEC) team, and Brazilian authorities (the Federal Public Ministry (MPF), the Office of the Comptroller General of Brazil (CGU), and the Attorney General of Brazil (AGU)).
As part of this resolution, TechnipFMC entered into a three-year Deferred Prosecution Agreement (DPA) with the DOJ related to conspiracy charges for violating the Foreign Corrupt Practices Act (FCPA) related to conduct in Brazil and with Unaoil. Additionally, Technip USA, Inc., a U.S. subsidiary, pled guilty to a conspiracy charge for violating the FCPA related to conduct in Brazil. The Company will also provide DOJ reports on its anti-corruption program during the term of the DPA.
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According to the U.S. Department of Justice, the charges stemmed from two independent bribery schemes: one scheme by Technip to bribe Brazilian authorities and another scheme by FMC to bribe officials in Iraq. Technip and FMC merged into TechnipFMC in January 2017. In 2010, Technip reached a US$ 240 million resolution with the Department of Justice over bribes paid in Nigeria.
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Bribes Paid to Brazilian Authorities in Exchange for Contract with Petrobras
According to admissions and court documents, the DOJ’s statement on Tuesday reveals that at least from 2003 to at least 2013, “Technip conspired with other companies, including Keppel Offshore & Marine Ltd. (KOM) and its former consultant, to violate the FCPA by making over US$ 69 million in corrupt payments and ‘commission payments’ to the consultant, companies affiliated with the consultant and others, who passed part of these payments as bribes to Brazilian government officials who were employees of Petrobras, in order to secure improper business advantages and obtain and maintain business with Petrobras for Technip, Technip USA, and Joint Venture.”
Additionally, the DOJ stated that Technip made over US$ 6 million in corrupt payments to the Workers’ Party in Brazil and to officials of the Workers’ Party in support of the bribery scheme.
Furthermore, according to the DOJ, starting at least in 2008 and continuing until at least 2013, FMC conspired to violate the FCPA by paying bribes to at least seven government officials in Iraq, including officials from the Ministry of Oil, the South Oil Company, and the Missan Oil Company, through a Monaco-based intermediary company, in order to secure improper and unauthorized business advantages and influence these foreign authorities to obtain and retain business for FMC Technologies in Iraq.
TechnipFMC agreed to pay a total of US$ 301.3 million to these authorities to resolve investigations into the conduct of former employees going back a decade, TechnipFMC reported on Tuesday.
“TechnipFMC fully cooperated with these authorities, and this is the first simultaneous resolution to include all U.S. and Brazilian authorities. TechnipFMC will not be required to have a monitor and instead will provide reports on its anti-corruption program to Brazilian and U.S. authorities for two and three years, respectively,” TechnipFMC stated.
Donoghue, U.S. attorney, stated: “Today’s resolutions are the result of an ongoing multinational effort to hold corporations and individuals accountable who seek to win business through corrupt payments to foreign officials and who attempt to use the U.S. financial system to carry out these crimes. We will continue to prioritize identifying and bringing to justice those who corrupt legitimate government functions for personal financial gain.”
Johnson, Deputy Assistant Attorney General at the DOJ, stated: “In an attempt to deceive the system, Technip violated the FCPA. Through the collaboration and dedicated efforts of the FBI and our foreign partners, Technip is being held accountable for perpetrating illegal schemes, and justice is being served.”
Former Employees to Blame
Doug Pferdehirt, President and CEO of TechnipFMC, stated: “Today we announce the resolution of these investigations. This conduct dating back over a decade, taken by former employees, does not reflect the core values of our company today. We are committed to doing business the right way, and that means operating with integrity everywhere.
“Our strong compliance program supports this commitment, and we will continue to enhance our program to ensure our employees have the practical tools and resources to do business the right way. We will remain focused on earning the trust our customers have placed in TechnipFMC by providing industry-leading innovation, superior customer service, and exceptional project execution.”
In Brazil, TechnipFMC’s subsidiaries Technip Brasil – Engineering, Installations and Maritime Support Ltd. and Flexibrás Flexible Tubes Ltd. reached leniency agreements with both the MPF and the CGU/AGU related to conduct in Brazil dating back over a decade. The company committed, as part of these agreements, to make certain enhancements to its compliance programs in Brazil over a two-year period, which aligns with its commitment to cooperation and transparency with the compliance community in Brazil and worldwide, TechnipFMC stated.
Additionally, TechnipFMC reached a preliminary agreement with the SEC staff, subject to final SEC approval, the oilfield services provider said.
TechnipFMC also stated that it has cooperated with an investigation by the French National Financial Prosecutor’s Office (PNF) related to historical projects in Equatorial Guinea and Ghana.
“To date, this investigation has not reached a resolution. TechnipFMC remains committed to finding a resolution with the PNF and will maintain a provision of US$ 70 million related to this investigation,” Technip stated.
Reduced Fine Due to Full Cooperation
The U.S. Department of Justice stated on Tuesday that in the resolutions with the DOJ, TechnipFMC received credit “for its substantial cooperation with the Department’s investigation and for taking comprehensive corrective actions.”
“For example, the company separated or took disciplinary action against former and current employees related to the improper conduct described in the statement of facts to which it admitted as part of the resolution; made changes to its business operations in Brazil to no longer engage in the type of work where the misconduct in question arose; required certain employees and third parties to undergo additional compliance training; and made specific improvements to the company’s internal controls and compliance program,” the DOJ said.
It added: “Thus, the criminal fine reflects a 25% reduction from the applicable U.S. Sentencing Guidelines fine for the company’s full cooperation and remediation.”
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