SBM Offshore closes Brazil legal cases

SBM Offshore closes Brazil legal cases

Dutch FPSO operator SBM Offshore has announced that a federal court has formally closed the lawsuit filed by Brazilian Federal Prosecutors Office against the company in 2017.

SBM and the prosecutors office reached a leniency agreement which comprises a final settlement of BRL200m ($48.8m), which will be paid to Petrobras.

SBM Offshore has paid large fines to both Dutch and Brazilian authorities to settle the legal cases. The cases stem from SBM’s involvement in the bribes-for-inflated-contracts scheme that has cost Petrobras billions of dollars and sullied its reputation worldwide.

After being cleared to resume business in Brazil in 2017, SBM Offshore signed a letter of intent with Petrobras in June for a 22.5 year lease and operate contract for FPSO Mero 2, to be deployed at the Mero field in the Santos Basin offshore Brazil.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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