SBM Offshore has reached a settlement with Brazilian authorities over a corruption investigation and can now resume business in South America’s largest country.
SBM will pay approximately $189m to the Brazilian authorities and state oil company Petrobras in fines and compensation for damages.
The company will not receive earlier agreed performance bonuses worth about $180m through to 2030.
SBM was accused of paying bribes to government officials to secure contracts with Petrobras. Two former SBM executives pleaded guilty in November to US charges that they participated in a scheme to bribe officials at three foreign state-run oil companies, including Petrobras.
