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Oct 21, 2019· SBM Offshore already holds majority stakes in the related entities and is the operator of the five FPSOs. The transaction will be subject to meeting of various preceding conditions such as consent from client Petrobras and approval from the Brazilian antitrust authority Conselho Administrativo de Defesa Econômica (CADE).
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According to the DPA, the U.S. also credited the amount in the announced provision taken by SBM in connection with its efforts to reach a resolution in Brazil. SBM's total penalties for the actions underlying these resolutions, therefore, constitute more than $475 million.
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Nationality of Foreign Officials: Brazil Summary of Allegations: The SBM Offshore probe in Brazil is referenced as "Operation Black Blood." Brazilian prosecutors allege that at least USD 46 million in "undue payments" were made in Switzerland between 1998 and 2012 tied to contracts for floating oil production, storage and offloading ships.
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Upon completion of the deal, SBM Offshore will continue to serve as the operator with 64.5% ownership interest. The deal follows the recent signing of a long-term contract by SBM Offshore with Brazil's Petrobras for the use and operation of FPSO Sepetiba for 22.5 years period at the Mero oil field located in the Santos Basin offshore Brazil.
The Bento Rodrigues dam disaster is considered to be worse environmental incident in the history of mining in Brazil. On November 5, 2015, two iron ore tailings dams of Samarco ( a joint-venture between Vale S.A. and BHP Billiton) collapsed.
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