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Police probe Keppel’s Brazilian business connections

Prosecutors in Brazil are investigating possible bribes paid off contracts signed by state-run oil company Petrobras and shipbuilder Sete Brasil Participações with Keppel Fels, the Brazil-based unit of Singaporean rig builder Keppel Corporation, Reuters reports.

Federal police reportedly conducted more searches and arrests in Brazil on Monday in the ongoing “Operations Car Wash” corruption investigation.

Brazilian engineering company Odebrecht, one of the companies at the centre of the scandal, told Reuters its offices in Sao Paulo, Rio de Janeiro and in Bahia had been searched by police. Marcelo Odebrecht, the former CEO of the engineering group, has been jailed since June.

A spokesperson for Keppel in Brazil denied any allegations of bribery when approached for comment by the newswire.

Sete Brasil plans to file for bankruptcy protection if its sole client Petrobras fails to present a final lease contract proposal within a week, Reuters said on Friday.

This spells trouble for Keppel. Sete Brasil is one of Keppel’s biggest customers and has placed orders worth a total of $7bn at the yard, which has so far received payments totalling just $1.3bn.

Keppel says only two of the six contracted rigs were so advanced in progress as to have gone to the company’s yard in Brazil. All other work on the contracted rigs has been suspended since the end of 2015.

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Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

Comments

  1. Suggest they investergate the dealings with Prosafe.
    Relationship was so corrupt the quality of the delivered vessels were sometimes unsafe.
    Ie :- Ningaloo Vision. ????.

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