Keppel O&M
May you read this in the best of health. Keppel unit to pay $422 million to resolve Petrobras bribery probes (Reuters 23rd Dec 2017) The above was the headline from Reuters a few days ago. 13 contracts were awarded totalling >USD$300m with the help of "dirty" monies. To put into context, the practice saw USD$55m paid out to different persons of influence between 2010 to 2014. Present and past employees have been disciplined and the most guilty of all are still facing investigations. One has spilled the beans to US authorities in exchange for leniency while the company has been fined across 3 countries worth >USD400m. Keppel FELS (Far East Levingston Shipbuilding) – a subsidiary of Kepple Offshore & Marine - was once awarded the largest rig builder in the world 2013 for delivering 21 rigs in a calendar year. While the corruption case centered on awarding the contracts to Keppel, there is no mention of the engineering integrity of the rigs delivered;...