⁍ Brazilian and Dutch police executed dozens of search warrants on Wednesday as part of a corruption probe into offshore oil rig company Seadrill Ltd.


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


⁍ Prosecutors described an alleged scheme in which Sapura, a joint venture in Brazil between Sapura Energy and Oslo-listed Seadrill, allegedly paid bribes worth 1.5% of the contracts it won with Petrobras.


– Brazil’s “Car Wash” corruption scandal has already resulted in charges against hundreds of politicians and businessmen, but now it’s targeting foreign companies. Brazilian and Dutch police on Wednesday conducted 25 search warrants in Brazil and the Netherlands in connection with contracts worth $2.7 billion signed between state-run oil firm Petrobras and Malaysia’s Sapura Energy in 2011, Reuters reports. Prosecutors say Sapura, a joint venture between Seadrill and Malaysia’s Sapura Energy, paid bribes worth 1.5% of the contracts it won to secure three contracts for the construction and charter of three pipe-laying support vessels. Prosecutors say some of the bribe money was returned to two “high-ranking” Sapura Energy executives in Malaysia. Seadrill and Sapura say they’re cooperating with authorities.



Source: https://www.reuters.com/article/brazil-corruption-seadrill/update-2-seadrill-sapura-latest-firms-targeted-in-brazils-car-wash-probe-idUSL2N2GL07X