Offshore drilling company Vantage Drilling has agreed to pay a settlement fee and settle the SEC's investigation into a possible bribery case related to a drilling contract with Petrobras.

The driller said on Monday that it completed the settlement with the US Securities and Exchange Commission "resolving the SEC's investigation into possible violations of the US Foreign Corrupt Practices Act's internal accounting control provisions. USA (FCPA) by its former parent company”. Vantage Drilling Company”.

“As part of the agreement, which arose from VDC's negotiations with Petróleo Brasileiro SA (“Petrobras”), Vantage agreed to pay US$5 million. Vantage has neither admitted nor denied any of the SEC's allegations, except as to jurisdiction, which it has admitted,” Vantage Drilling said Monday.

Energy Offshore Hoje in August 2017 reported that the US Department of Justice closed an investigation into alleged improper payments by Vantage Drilling in Brazil without taking any action.

The investigation arose in 2015 of allegations of improper payments by a Vantage Drilling director to former Petrobras employees made in 2009 and 2010 in connection with the contracting of the Titanium Explorer drillship for Petrobras.

According to a filing released by the SEC on Monday (PDF), through agents and intermediaries agreed to pay US$31 million in bribes to Petrobras employees and in return, Petrobras awarded in February 2009 an eight-year contract worth US$1,8 billion. the Titanium Explorer drillship.

Satisfied with the closure

“Since the beginning of the investigation, the company has provided full cooperation with the DOJ and the SEC. The SEC noted, as one of its considerations in resolving the matter, that the Company has reconstituted its Board of Directors and put in place a new management team.

“With the SEC's resolution of this matter and the DOJ's earlier decision to close its investigation of Vantage and VDC without taking any action, the United States government's investigation of Vantage and VDC for potential FCPA violations formally concluded, Said Vantage Drilling.

Ihab Toma, CEO of Vantage, said: “We are very pleased that the US government's investigation into potential violations of the FCPA has closed. Vantage has been, and remains, firmly committed to conducting its operations in compliance with all applicable laws and regulations, including the FCPA. ”