Petrobras receives $149 mln from SBM

Brazil

RIO DE JANEIRO, October 23, 2018 – Brazilian NOC Petrobras has received the first tranche of payments from SBM Offshore under a leniency deal the Dutch marine services company entered into in relation to corruption charges, local media reported Monday.

SBM Offshore paid Petrobras BRL 549 million (USD 148.9 million) of the total BRL 1.22 billion (USD 330.9 million) it had agreed to pay. Overall, the leniency agreement signed in July called for SBM to make cash payments and forego 95% of future performance bonus payments related to the Cidade de Anchieta and Capixaba FPSOs through 2030.

In return, Brazilian authorities will not be able to continue or open new investigations into SBM for legacy corruption charges, and the company will once again be allowed to participate in Petrobras tenders without penalty.

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