Petrofac: Bribery investigation continues. SFO to interview Chairman, executive directors

UK’s Serious Fraud Office is still investigating oilfield services provider Petrofac for bribery, corruption, and/or money laundering.

SFO initiated its investigation in May 2017 related to Petrofac’s alleged involvement into a widespread corruption scandal involving Monaco-based Unaoil.

Petrofac chief executive Ayman Asfari and COO Marwan Chedid were last year arrested, questioned under caution by the SFO, and were released without charge.

Following the launch of the investigation, Petrofac suspended Chedid who then resigned from the company’s board.

That is when Petrofac announced a number of decisions, including forming a committee to be solely responsible for the company’s engagement with the SFO and to oversee the company’s response to the investigation.

Asfari remained the CEO, however, he stood down from the Nominations Committee, which is responsible for decisions relating to the appointment and removal of senior leadership roles.

In an update on Monday, February 5, 2018, Petrofac said the company continued to engage with the SFO.

“This engagement has involved and is expected to continue to involve the interview of Directors of the Company, including the Chairman, Executive Directors, and Non-Executive Directors, as well as employees, either under Section 2 of the Criminal Justice Act or under caution,” Petrofac said.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Posted on February 5, 2018 with tags .

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply