Prosecutor: Total Faces French Trial over Iran Contracts


PARIS, Nov 25 (Reuters) – French oil company Total is to face trial in France over corruption allegations relating to Iranian contracts dating from the 1990s and early 2000s, the Paris prosecutor's office said on Tuesday.

Total agreed last year to pay $398.2 million to settle U.S. criminal and civil allegations that it paid bribes to win oil and gas contracts in Iran, in what was billed as the first coordinated action by French and U.S. law enforcement in a major foreign bribery case.

At the time, the Paris prosecutor recommended that the company and its then chief executive, Christophe de Margerie, be brought to trial. De Margerie died last month in a plane crash.

The late CEO would have also faced trial, but because of his death, the criminal action is discontinued, the prosecutor's office said.

Given existing legal timetable it could be several months or a year before the trial begins.

U.S. authorities said that between 1995 and 2004, Total paid about $60 million in bribes to induce an Iranian government official to help the company obtain lucrative development rights in three oil and gas fields related to the South Pars project.

A spokeswoman for Total confirmed it had received notification of the trial, without elaborating. Last year, the company had said that Total and de Margerie would demonstrate in any trial that their behaviour had been legal.

In its annual report, Total said it did not consider that the resolution of these cases would have a significant impact on the group's financial situation or consequences for its future planned operations.

(Reporting by Chine Labbe and Michel Rose; Editing by Alexandria Sage and Andrew Callus)


Copyright 2016 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Logistics Coordinator & Optimization Analyst
Expertise: Logistics Management
Location: Billings, MT
Associate Category Manager or Category Manager Job
Expertise: Logistics Management|Purchasing|Supply Chain Management
Location: Denver, CO
Contracts Advisor
Expertise: Budget / Cost Control|Contracts Engineer|Supply Chain Management
Location: San Ramon, CA
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours