TechnipFMC agrees to pay over $300m to resolve anti-corruption investigations

TechnipFMC agrees to pay over $300m to resolve anti-corruption investigations

Offshore engineering contractor TechnipFMC has agreed to resolutions with the U.S. Department of Justice (DOJ), the U.S. Securities and Exchange Commission (SEC) and Brazilian authorities including the Federal Prosecution Service (MPF), the Comptroller General of Brazil (CGU), and the Attorney General of Brazil (AGU), to resolve anti-corruption investigations in Brazil relating to intermediary Unaoil.

The company has agreed to pay a total of $301.3m to authorities to resolve investigations into conduct dating back over a decade ago.

As part of this resolution, TechnipFMC entered into a three-year Deferred Prosecution Agreement (DPA) with the DOJ over charges of conspiracy to violate the Foreign Corrupt Practices Act (FCPA) related to conduct in Brazil and with Unaoil. In addition, Technip USA pled guilty to one count of conspiracy to violate the FCPA related to conduct in Brazil. The company will also provide the DOJ reports on its anti-corruption program during the term of the DPA.

TechnipFMC has committed to make certain enhancements to their compliance programs in Brazil during a two-year self-reporting period.

“Today we announce the resolution of these investigations. This conduct dating back over a decade ago, taken by former employees, does not reflect the core values of our Company today. We are committed to doing business the right way, and that means operating with integrity everywhere. Our strong compliance program supports this commitment, and we will continue to enhance our program to ensure that our employees have the practical tools and resources to do business the right way. We will remain focused on rewarding the trust that our clients have put in TechnipFMC by delivering industry-leading innovation, superior client service, and exceptional project execution,” said Doug Pferdehirt, chairman and CEO of TechnipFMC.

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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