Petrobras: No evidence of bribery in SBM Offshore investigation

Brazilian state-run oil company Petrobras has completed an investigation into an alleged bribery case involving SBM Offshore and its employees. No evidence of wrongdoing has been found.

Petrobras has announced that the Internal Commission of Inquiry, formed on Feb. 13, 2014 to investigate alleged bribe payments to Company employees involving SMB Offshore, a Dutch provider of floating production units, concluded that, based on the work done and restricted to its regulatory competence, it found no facts or documents evidencing payment of bribes to Petrobras employees.

Also, during the work done by the mentioned Internal Commission, explanations were provided to the Comptroller General’s Office and to the Federal Prosecutor’s Office.

The final Report of Petrobras’ Internal Commission of Inquiry will be forwarded to the Comptroller General’s Office, to the Federal Budget Oversight Board, and to the Federal Prosecutor’s Office.

According to allegations, SBM Offshore paid more than a $100 million in bribes to secure FPSO contracts.

“We are pleased to note the conclusion of Petrobras’ investigation. The Company hopes to be able to share more details on its internal investigation in the next few days,” SBM Offshore said in a statement.