SBM Offshore’s CEO and another company executive have agreed an out-of-court settlement with the Brazilian public prosecutor’s office (Ministério Público Federal) for charges relating to the Petrobras corruption scandal.
Bruno Chabas, SBM Offshore’s CEO, and Sietze Hepkema, a member of the company’s supervisory board, have agreed to a settlement of BR250,000 ($60,000) each, which will be paid by the Amsterdam-based company. The settlement is subject to confirmation from a judge.
“The company emphasizes that this settlement does not involve an admission of guilt and remains of the opinion that the accusations are without merit,” SBM Offshore commented on Tuesday.
“However, SBM Offshore also believes that accepting the settlement offers a pragmatic opportunity to expeditiously resolve this matter that avoids long and costly legal proceedings and allows the company’s management team to concentrate on the business.”
In December, Chabas and Hepkema appeared on a list of former Petrobras executives, sales agents and SBM Offshore executives who may be prosecuted in Brazil in relation to the scandal, in which executives from the Brazilian state energy company received bribes in exchange for work contracts.
State prosecutors say that, from 2004, certain Petrobras officials colluded with a cartel of companies to overcharge the oil company for construction and service work. Petrobras’ confederates were rewarded with bribes, much of which was allegedly shared with Brazilian politicians.