Technip Resolves FCPA Probe, Agrees to Pay $240 Million Fine
July 3rd, 2010
Paris-based Technip SA, a service company for the oil and gas industry, is paying $338 million in civil and criminal penalties to settle claims that it worked with former Halliburton subsidiary KBR to bribe Nigerian officials and win $6 billion in contracts. The $338 million figure includes a $240 million criminal fine, plus a disgorgement of $98 million to resolve civil claims made by the Securities and Exchange Commission. Technip has also entered into a deferred prosecution agreement.
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Technip Resolves FCPA Probe, Agrees to Pay $240 Million Fine