Brazil Charges Former Vantage Drilling Chief with Corruption

Friday, July 13, 2018

Brazilian federal prosecutors on Thursday charged the former chief executive of U.S. oil services company Vantage Drilling with corruption and money laundering, accusing him of offering $31 million in bribes to public officials.

Federal prosecutors said in a statement that the charges against former CEO Paul Bragg related to irregularities in a 2009 contract worth $1.8 billion to charter a drill ship to state-run oil firm Petroleo Brasiliero SA.

Reuters was unable to locate Bragg or his representatives. Bragg was CEO of the Houston-based company from 2006 to 2016. In a 2015 news release by Vantage, Bragg said there was no evidence of wrongdoing by Vantage or "any personnel associated with Vantage."

Vantage Drilling did not immediately respond to request for comment.

The charges against Bragg were the latest in the sprawling "Operation Car Wash" probe into a cartel scheme through which kickbacks were offered by companies for government projects.

The probe and related investigations have implicated hundreds of government officials and corporate executives.


(Reporting by Jake Spring; Editing by Cynthia Osterman)

Categories: Legal Finance Deepwater Offshore Offshore Energy

Related Stories

DeepOcean Set for Long-Term IMR Duty with Vår Energi

Ocean Geophysics, HighTide Team Up for Offshore Data Processing

Ocean Infinity Takes Delivery of Final Armada Fleet Vessel

Current News

Equinor Renews Subsea Inspection Deal with Subsea 7

Saipem Gets DNV Certification for Offshore Asset Lifecycle Management

Archer to Remain North Sea Drilling and Maintenance Duty for Aker BP

Tekmar Secures Over $9M Offshore Wind Cable Protection Deal

Subscribe for OE Digital E‑News