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Extractive Industries/Mining/Oil & Gas
Arendal, Norway
Nationality of Foreign Officials: Brazil
Summary of Allegations:
In June 2015, Sevan Marine engaged the law firm of Selmer to initiate an independent corporate investigation into the circumstances and facts surrounding the Petrobras contracts, in response to Brazilian press articles which refer to a former manager and agent of Sevan Marine being named in connection to the Petrobras scandal.
On 16 October 2015, Sevan Marine announced that the Board has received the investigation report from Selmer which concluded that it is more likely than not, that illegal conducts in the form of improper payments to obtain business occurred when Petrobras awarded contracts to Sevan from 2005 to 2008 with regards to Sevan Piranema, Sevan Driller and Sevan Brasil. The report alleged that there were indications of suspicious acts and transactions, constituting both a neglect of Sevan's affairs and/or a conflict with Sevan's interests and such acts may potentially represent economic crime. Furthermore, the report alleged that the possible wrongdoings identified were connected to former Sevan employees.
Approximate Alleged Payments to Foreign Officials: Unspecified
Business Advantage Allegedly Obtained: Unspecified
Agencies: Brazil: Unspecified
Results:
Year Resolved:
Compliance Monitor:
Ongoing: Yes
Details:
On 16 October 2015, Sevan announced that the company has initiated early contacts with the relevant prosecutors' office in Brazil in coordination with counsel retained in Brazil.
Agencies: Norway: National Authority for Investigation and Prosecution of Economic and Environmental Crime
Results:
Year Resolved: 2018
Compliance Monitor:
Ongoing: No
Details:
On 16 October 2015, Sevan announced that the company has provided the internal investigation report to the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime ("ØKOKRIM") in coordination with counsel retained in Norway.
On 07 May 2018, it was announced that Sevan was cleared of any wrongdoing and the investigation was closed.
Agencies: United Kingdom: Unspecified
Results:
Year Resolved:
Compliance Monitor:
Ongoing: Yes
Details:
On 16 October 2015, Sevan announced that the company has initiated early contacts with the relevant prosecutors' office in the United Kingdom in coordination with counsel retained in the United Kingdom.
Agencies: United States: Department of Justice, United States: Securities and Exchange Commission
Results:
Year Resolved:
Compliance Monitor:
Ongoing: Yes
Details:
On 16 October 2015, Sevan announced that the company has initiated early contacts with the relevant prosecutors' office in the United States.
Discovery Method: Voluntary Disclosure
Details:
Sevan voluntarily disclosed the findings from their internal investigation to the relevant authorities in Norway, United States, United Kingdom and Brazil in 2015.
Country: