Oilfield Services Firm Petrofac Finds no evidence of bribery by Unaoil
UK Oilfield Services Provider Petrofac said on Monday its Investigation of Bribery Allegations has Found No Evidence that Implicate it in a Global Bribery Scandal Related to Monaco-Based Service Provider Unaoil.
To remind, the Huffington Post and its Australian partner, Fairfax Media, earlier this year revealed its results of a six-month investigation of family-owned company Unaoil implicating big multinational oil companies and politicians in a global web of bribery in the Middle East and Africa from 2002 until 2012.
The scandal also implicated Norwegian engineering and construction services company Kvaerner related to a Caspian Sea project. Kvaerner denied the allegations saying its project execution in the Caspian Sea ‘was conducted properly and within the relevant frameworks for good integrity’.
According to Petrofac’s statement on Monday, the company concluded the independent investigation commissioned by the Board into allegations in the media related to the historical provision of services to the company by Unaoil.
“The Board confirms that no evidence was found that any director of the company was aware of the alleged misconduct that is the subject of the allegations,” Petrofac said.
The company also added the independent investigation has ‘thoroughly’ investigated the allegations, based solely on the information available to the company, and recognizing their historical nature and wider context beyond Petrofac.
The company confirmed that it engaged Unaoil for the provision of local consultancy services primarily in Kazakhstan between 2002 and 2009. The independent investigation did not find evidence confirming the payment of bribes, the oilfield services company reiterated.
Petrofac noted that the international law firm Freshfields Bruckhaus Deringer (FBD), with the support of forensic accountants KPMG LLP, carried out the independent investigation and reported to a sub-committee of the Board comprising the Chairman and three independent Non-executive Directors.
The company added that the Board considers it appropriate to share the findings of the investigation with UK’s Serious Fraud Office (SFO), and any other relevant authorities, and has noted the SFO’s general request for information in relation to its ongoing investigation into the activities of Unaoil.
In conclusion, Petrofac stated the company enforces strict anti-bribery and corruption standards and a compliance program focused on training, monitoring, risk management and due diligence.
