SBM Offshore stands behind its execs following Brazil bribery probe

SBM Offshore, one of the world’s largest providers of floating production systems for the oil and gas industry, has backed its CEO, and a member of Supervisory Board, following reports that the two have been charged for an alleged bribery in Brazil.

To remind, Brazilian media last week reported that two SBM Offshore’s executives, CEO Bruno Chabas, and a member of the Supervisory Board Sietze Hepkema have been linked to the corruption scandal with Petrobras in Brazil.

Chabas and Hepkema have appeared on a list of (former) Petrobras executives, and former sales agents and (former) SBM Offshore executives who may be prosecuted in Brazil in relation to a corruption case. According to Brazilian media, the Brazilian authorities are investigating a scheme involving embezzlement and bribery in Petrobras contracts with SBM Offshore, which allegedly began in 1997 and lasted until 2012.

In a statement issued Monday, December 21, SBM Offshore’s Supervisory Board said there were no impediments to “Mr. Chabas continuing in his role as CEO of SBM Offshore and to his leadership of the Company through these challenging times.“

Likewise, SBM Offshore said, the Supervisory Board sees no impediments to Hepkema continuing to serve as member of the SBM Offshore Supervisory Board. The company, however, said that, as always, due regard is given to potential conflicts of interest.

The Chairman of the Supervisory Board, Frans Cremers commented: “It is unfortunate that the very people who have been and still are doing the right things in this complex compliance case in Brazil, are now being questioned. We have no doubts regarding the integrity of both Bruno Chabas and Sietze Hepkema, who continue to have our full support.”

Offshore Energy Today Staff

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