Keppel Offshore & Marine informed that it has made full payment of the fines and damages worth around $65m to Brazil under a leniency agreement that had been set out in December 2022.
More specifically, the fines are penalties regarding corrupt payments made by a former agent of Keppel O&M in Brazil in order to secure work for the yard and Technip with Brazilian state-owned operator Petrobras.
What is more, the Attorney-General’s Chambers of Singapore and Singapore’s Corrupt Practices Investigation Bureau (CPIB) confirmed that Keppel O&M may seek credit of up to $52.77m in respect of the fines payable to the Brazilian authorities.
Earlier in January, CPIB had also issued stern warnings to six former senior management staff of Keppel O&M over the bribe payments.
