TechnipFMC Fined $300 Million Over Brazil, Iraq Bribes

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Oil services firm TechnipFMC will pay upwards of $300 million to resolve allegations the company bribed Brazilian and Iraqi officials to win business, the company and US officials announced Tuesday.

A former Technip consultant also pleaded guilty to a charge of conspiracy to violate the US Foreign Corrupt Practices Act, according to the Department of Justice.

The outcome shows Washington will pursue people and companies “who seek to win business through corrupt payments to foreign officials,” US Attorney Richard Donoghue, the top federal prosecutor in the Eastern District of New York, said in a statement.

The settlement — in which the London-headquartered company promised to apply “rigorous internal controls” and cooperate with a continuing investigation — marks the second time in less than a decade that a Technip company has paid hundreds of millions over foreign bribery.

In 2010, a predecessor company, Technip SA, agreed to pay $240 million to resolve allegations of bribery in Nigeria.

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