Offshore Activity

SBM Offshore to pay $238M as U.S. subsidiary pleads guilty for bribery

SBM Offshore USA, a subsidiary of world’s largest FPSO provider SBM Offshore, has pleaded guilty for charges of bribing foreign officials in Brazil, Angola, Equatorial Guinea, Kazakhstan and Iraq in violation of the Foreign Corrupt Practices Act (FCPA).

The U.S. Department of Justice said on Thursday that the Dutch FPSO specialist SBM Offshore would pay a criminal penalty of $238 million in connection with the bribery schemes.

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