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Brazil deepens probe into alleged corruption at Petrobras

Brazil deepens probe into alleged corruption at Petrobras
Brazil’s Parliamentary Commission of Inquiry (CPI) has recommended the deepening of investigations into 10 companies involved in the alleged bribery transactions with Petrobras and Sete Brasil.

The further investigations are expected to be extended to two Singapore yards - Keppel Corp's Keppel FELS Brasil and Sembcorp Marine's Jurong Shipyard, and Japan's Kawasaki Heavy Industries, as they were mentioned in testimonies released by a Brazilian court.

The on-going allegations are that Keppel FELS and Jurong Shipyard were among a group of companies that paid bribes through intermediaries to win contracts relating to the construction of 21 deepwater drillships valued at $800m each.

The contracts were awarded by Sete Brasil, a company established by a group of Brazilian banks and Petrobas to build deepwater rigs and then lease them to the state-owned oil producer.

Keppel Corp issued a statement on Friday to affirm that it will extend its full cooperation to the authorities if approached.

“Keppel reiterates its zero-tolerance stance against any form of illegal activity, including bribery and corruption, involving its employees or associates, and will take all necessary steps to eradicate such conduct if discovered,” it said.

A consortium in which Kawasaki Heavy is a participant was also cited in the testimonies, saying the Japanese yard partnered with other companies to win contracts with Sete Brasil.

Earlier this year in February, Keppel Corp and SembMarine had issued statements to refute the allegations of paying bribes to Petrobras and Sete Brasil.