TechnipFMC has entered into a three-year agreement with the Ministry of Justice on deferred prosecutions for conspiracy to violate the Foreign Corrupt Practices Act (FCPA) in relation to conduct in Brazil and with Unaoil. Technip USA Inc., a subsidiary of Technip, pleaded guilty to one count of conspiracy to violate the FCPA, related to the company`s conduct in Brazil. The company is also required to provide reports on its anti-corruption program for three years. In Brazil, the TechnipFMC units have Technip Brasil Engenharia, Instalações E Apoio Marítimo Ltda. and Flexibrás Tubos Flexíveis Ltda. Leniency agreements have been concluded with both MPF and the GCU/AGU. TechnipFMC will provide Brazilian authorities with reports on its anti-corruption program for two years and is committed to «making improvements to their compliance programs» in the country, the company said. SBM Offshore has confirmed that it has secured the end of its three-year agreement on deferred prosecutions with the Ministry of Justice for FCPA violations, but the oil and gas services company now faces a new corruption investigation by Swiss law enforcement authorities. TFMC has reached a deferred prosecution agreement with the department in connection with a criminal investigation filed today in the Eastern District of New York, which accuses the company of a double conspiracy to violate the anti-bribery rules of the Foreign Corrupt Practices Act (FCPA). In addition, Technip USA pleaded guilty and was convicted of an avowed criminal investigation accusing it of conspiracy to violate FCPA anti-bribery rules.
Under its agreement with the ministry, TechnipFMC will pay a total fine of more than $296 million, including a $500,000 fine paid by Technip USA. As part of the deferred prosecution agreement, TechnipFMC has committed to rigorous internal controls and fully cooperate with the ministry`s ongoing investigations. In Brazil, TechnipFMC`s subsidiaries have Technip Brasil – Engenharia, Instalações E Apoio Marítimo Ltda. and Flexibrás Tubos Flexíveis Ltda. leniency agreements with MPF and the CGU/AGU on practices in Brazil dating back more than a decade. As part of these agreements, the company has committed to making certain improvements to its compliance programs in Brazil over a two-year self-reporting period, which aligns with its commitment to cooperation and transparency with the compliance community in Brazil and around the world, TechnipFMC said. In addition, Technip has reached an agreement in principle with the staff of the US SEC, which is still subject to final approval. Dutch oil and gas services company SBM Offshore said it had reached a leniency agreement with Brazilian authorities to resolve allegations related to the Petrobras corruption scandal.
In addition, the Technip-Flexibras agreement provides for payments of 253 million reais ($66.9 million) in 2020 and 2021, Petrobras said. As explained below, the decisions highlight the risks associated with the liability that will follow it. TFMC inherited significant commitments from the FCPA as part of its merger in 2017. In 2010, Technip S.A., whose American depository shares were traded on the New York Stock Exchange between August 2001 and November 2007, entered into a two-year deferred prosecution agreement and a $240 million agreement with the DOJ to participate in a program of bribing Nigerian officials to obtain engineering contracts, of purchase and construction. [5] Some of the company`s infringements in Brazil and Iraq took place pending the 2010 deferred prosecution agreement and during Technip S.A. . . .