Aberdeen-Based Energy Services Giant Settles Bribery Cases With U.S. Authorities for $196M
The firm had expected, as of December 2019, a figure of $46m to settle the matters, but has now revealed it expects to pay more than four times that amount.
Wood has been under investigation by the Serious Fraud Office (SFO) over the link between Amec Foster Wheeler, which Wood acquired in 2017, and Unaoil, which has been the subject of a probe since 2016.
The AFW investigation focuses on past use of possible bribery and corruption, and related offenses.
Wood is also continuing to cooperate with the US Department of Justice and Securities and Exchange Commission in relation to Amec Foster Wheeler’s link to Unaoil and other counterparties, in various regions.
Meanwhile, notifications were made to the Federal Prosecution Service, the Office of the Comptroller General, and the Attorney General of Brazil.
