Sapura Energy says no director or employee under investigation by the authorities in Brazil

KUALA LUMPUR: Sapura Energy Bhd says no director or employee of the company is under investigation by the authorities in Brazil.

Clarifying several media reports mentioning it in the “Operation Car Wash” probe there, Sapura Energy said a search and seizure warrant had been issued by the 13th Federal Court of Curitiba, Brazil on two accused persons.

Neither of them were employees or directors of the company, Sapura Energy said in a statement today.

The company said Sapura Navegacao Maritima SA (SNM), a 50:50 joint venture between it and offshore oil rig company Seadrill Ltd, was fully cooperating with the Brazilian investigating authorities.

“The joint venture is a separate entity managed independently of its two shareholders. To date, SNM has not been contacted by any other authorities.

“As part of good corporate governance, SEB has initiated its own inquiry to ascertain whether there were any breaches of any laws and non-compliance to its Code of Ethical Conduct.”

Sapura Energy reiterated that at all times, it conducted its business in accordance with the law and best corporate governance, in line with its corporate values of professionalism, honesty and trust.

“(Sapura Energy) categorically states its zero-tolerance policy towards bribery and corruption,” it said.

On September 24, Brazilian and Dutch police had reportedly executed dozens of search warrants as part of a corruption probe into Seadrill and Sapura Energy, as Brazil’s famed “Car Wash” corruption investigation eyes an increasing number of international firms.

In a statement, federal prosecutors in Brazil reportedly said they had carried out 25 searches, concentrated in Rio de Janeiro and Sao Paulo, while Dutch police had also carried out searches as part of a parallel investigation into the matter.

The prosecutors described the operation as an attempt to deepen ongoing probes into three contracts worth US$2.7 billion signed between Sapura and state-run oil firm Petrobras in 2011.

The contracts, for the construction and charter of three pipe-laying support vessels, known as PLSVs, were still in effect today, prosecutors said.

Source: NST