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A European energy company admits to paying bribes in Iraq and the verdict will be pronounced next Monday
- Time: 09/24/2021 18:35:09
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{Economic: Al Furat News} Oilfield services provider Petrofac today reached an agreement to reduce the penalty with Britain's Serious Fraud Office as part of an investigation into the company's previous dealings in the Middle East.
A spokesman for the office said that the British "Petrofac", which was present in court today, was charged with seven separate charges of failing to prevent bribery between 2011 and 2017 in the Middle East.
The London-registered company indicated that it would accept the seven charges related to failing to prevent former employees of the Petrofac group from offering or offering bribes to agents on projects awarded between 2012 and 2015 in Iraq, Saudi Arabia and the United Arab Emirates.
The company said a sentencing hearing is scheduled to take place at Southwark Crown Court in London from next Monday.
"We have fundamentally reformed our internal system, as well as the people and the culture that supports bribery," said Rene Midori, the company's chairman.
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{Economic: Al Furat News} Oilfield services provider Petrofac today reached an agreement to reduce the penalty with Britain's Serious Fraud Office as part of an investigation into the company's previous dealings in the Middle East.
A spokesman for the office said that the British "Petrofac", which was present in court today, was charged with seven separate charges of failing to prevent bribery between 2011 and 2017 in the Middle East.
The London-registered company indicated that it would accept the seven charges related to failing to prevent former employees of the Petrofac group from offering or offering bribes to agents on projects awarded between 2012 and 2015 in Iraq, Saudi Arabia and the United Arab Emirates.
The company said a sentencing hearing is scheduled to take place at Southwark Crown Court in London from next Monday.
"We have fundamentally reformed our internal system, as well as the people and the culture that supports bribery," said Rene Midori, the company's chairman.
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