TechnipFMC plc ("TechnipFMC") was a global provider of oil and gas technology and services. TechnipFMC was the product of a 2017 merger between Technip S.A. ("Technip") and FMC Technologies, Inc. ("FMC Technologies").
Prior to the merger, Technip was a global oil and gas technology and services company that was headquartered in France. Technip operated through a variety of foreign subsidiaries, including its wholly-owned American subsidiary Technip USA Inc. ("Technip USA). Between at least August 2001 and November 2007, Technip's shares were registered with the SEC and traded on the New York Stock Exchange. FMC Technologies was an oil field services and equipment company based in Texas. FMC Technologies' stock was registered with the SEC and traded on the New York Stock Exchange.
According to the documents in this case, TechnipFMC's predecessor companies engaged in two separate bribery schemes.
Between 2003 and 2014, Technip and others, including Technip USA, a joint venture entered into with Keppel Offshore & Marine Ltd. ("KOM), and executives at Technip engaged in a conspiracy to make "commission" payments to a consultant, knowing that at least portion of those payments would be used to pay bribes to officials at Petrobras, Brazil's national oil company, as well as to the Workers' Party of Brazil, a Brazilian political party. These payments were made for the purpose of obtaining large offshore oil and gas projects in Brazil. In total, Technip and its co-conspirators made more than $69 million in payments as part of the scheme to obtain the oil and gas projects, and Technip and its subsidiaries earned approximately $135.7 million in profits connected to those payments.
Between 2008 and 2013, FMC Technologies conspired to pay bribes to at least seven government officials in Iraq, including officials at the Ministry of Oil and Iraqi state-owned oil companies. The payments were made through Monaco-based Unaoil and often through other Iraqi sub-agents in order to obtain contracts to provide metering technologies for oil and gas production measurement to the Iraqi government.
On June 25, 2019, the DOJ filed a two count Information in the Eastern District of New York against TechnipFMC alleging conspiracy to violate the anti-bribery provisions of the FCPA. On the same date, TechnipFMC entered into a three-year deferred prosecution agreement with the DOJ. Under the terms of the settlement, TechnipFMC agreed to pay a total criminal penalty of $296,184,000 and to report on the status of its anti-corruption compliance policies and procedures for the term of the agreement. The penalty was split between the U.S. and Brazilian governments. TechnipFMC agreed to pay $214,331,033 to the Brazilians and $81,852,967 to the U.S. The U.S. portion included the $500,000 fine levied against Technip USA in a related proceeding.
In a related proceeding initiated on June 25, 2019, the DOJ filed a single count Information in the Eastern District of New York against Technip USA alleging conspiracy to violate the anti-bribery provisions of the FCPA. On the same date, Technip USA entered into a plea agreement with the DOJ. Under the terms of the agreement, Technip USA agreed to pay a penalty of $500,000 plus a mandatory assessment of $400.
