Sapura Energy refutes bribery, corruption allegations

PETALING JAYA: Sapura Energy Bhd and its group of companies have refuted any involvement in bribery or corruption in its business dealings in Brazil and anywhere else in the world, in relation to the recent news of investigations into the group’s and Seadrill’s alleged bribery involvement relating to Petrobras contracts.

In its Bursa filing, it clarified that an investigation by the Brazilian authorities in 2016 and 2017 had cleared Sapura Energy from all allegations of bribery or corruption.

“The company has in the past cooperated and will continue to cooperate with any investigation or regulatory authority in relation to bribery and corruption. The company has a strict policy against bribery and corruption and has internal policies and procedures to mitigate this risk,” it said.

The group highlighted that it has a clause in all of its agreements on anti-bribery which will make the agreement void if bribery is involved or is suspected to be involved as part of its governance and processes.

“We have in the past taken immediate steps to cease contractual obligations whenever a suspicion of bribery or corruption was raised,” it said in a statement.

“These facts demonstrate and are clear evidence of the company’s commitment to its zero-tolerance policy towards bribery and corruption.”

On Wednesday, it had been reported that search warrants had been executed on Sapura Energy and Seadrill as part of Brazil’s “Cash War” corruption investigation. Reuters reported that the operation was an attempt to deepen ongoing probes into three contracts worth US$2.7 billion (about RM11.25 billion) signed between a Sapura Energy-Seadrill joint venture firm and state-run oil firm Petrobras in 2011.

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