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Keppel Offshore and Marine to pay US$65 million as resolution with Brazilian authorities

The Edge Singapore
The Edge Singapore12/20/2022 12:30 AM GMT+08  • 3 min read
Keppel Offshore and Marine to pay US$65 million as resolution with Brazilian authorities
According to Keppel, with the leniency agreement, it does not expect any further grounds for liability in Brazil in relation to these issues. Photo: Keppel
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Keppel Corporation's offshore and marine unit, Keppel Offshore and Marine (Keppel O&M), has reached a joint resolution with Brazilian authorities by signing a leniency agreement and by paying around US$65 million ($88.3 million), putting a conclusion to the long-running corruption case.

The settlement, with the Brazilian Attorney-General’s Office (AGU) and Comptroller General of the Union (CGU), was in relation to the corrupt payments made by Keppel O&M's former agent in Brazil, which was previously announced in December 2017.

That was when Keppel announced a global resolution reached with criminal authorities in Brazil, the United States and Singapore. Back then, Keppel had already paid some US$422 million to authorities including the US Department of Justice, and Brazil's Public Prosecutor’s Office.

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