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Petrofac exec "paid $2 million bribe" to secure Kuwait oil contract
April 7, 2016, 1:12 pm
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A top executive at oilfield services giant Petrofac is alleged to have ordered “confidential payments” amounting to $2 million to help win an oil contract in Kuwait, The Times reported on Thursday.

The newspaper said that it had seen internal emails and invoices from another oil services company, Unaoil, that appear to show that Peter Warner, a former executive vice president of sales and marketing at Petrofac, had authorised the payment in four instalments via a company in the Marshall Islands in 2007.

The name of the Kuwaiti company was not disclosed. The Times said the payments could be related to a 2007 contract that showed record were to be made for “certain services” linked to a project in Kuwait.

Petrofac has said it is investigating the allegations, while Unaoil, which is being investigated by the UK’s Serious Fraud Office over alleged bribery, has denied wrongdoing. The Times said there was no evidence to suggest that Petrofac’s senior management was aware of any confidential payments being considered or made.

“Petrofac takes any suggestion of improper conduct very seriously and we are looking into the allegations made. Petrofac does not condone any activities that contravene our code of conduct, which includes strict antibribery and corruption standards,” the firm said in a statement to The Times.

Petrofac, which is listed in London, has extensive operations in the Middle East, with operational centres in Saudi Arabia, Abu Dhabi and Sharjah.

Source: Arabian Business

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