SBM Offshore Says Will Not Participate in Brazil Tenders

Reuters

June 12 (Reuters) – Dutch oil platform leasing firm SBM Offshore NV said on Thursday it will not participate in bidding for two major Brazilian offshore floating production facilities.

The company, which is being investigated for alleged bribery of Brazilian government officials, had planned to bid for the Tartaruga Verde and Libra tenders floating production, storage and offloading vessels with state-run Petroleo Brasileiro SA (Petrobras).

Brazilian senators are looking into allegations that officials at Petrobras took bribes in exchange for steering contracts to SBM Offshore.

They said SBM Offshore could not take part in the tenders while under investigation.

SBM had said last month it was in talks about the exclusion, but on Thursday said that based on those discussions it "will not participate as an international contractor in current tenders".

SBM said in April an internal investigation had found no evidence of improper payments in Brazil, although sales contractors had made improper payments in other countries.

SBM Offshore shares were down 1.6 percent to 11.67 euros ($15.89) on Thursday. They are down 21 percent this year.

Source text for Eikon: Further company coverage:

($1 = 0.7345 Euros)

(Editing by Jason Neely)

 

Copyright 2016 Thomson Reuters. Click for Restrictions.

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