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 | Investigations Dataset

Stanford Foreign Corrupt Practices Act Clearinghouse a Collaboration with Sullivan & Cromwell LLP

Investigations Dataset

 
Investigation into PetroNor's Activities in Africa · PetroNor E&P ASA

Information & Summary

Investigation into PetroNor's Activities in Africa

Related FCPA Matter:   PetroNor's Involvement in Africa Information

Information & Summary

Investigation Name:    Investigation into PetroNor's Activities in Africa

Trend:    None

Type of investigation:    Internal, DOJ

Other Agencies Investigating/Assisting with DOJ Investigation:   

  • Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime

Whistleblower:    Unknown

Summary

PetroNor E&P ASA, headquarterd in Norway and listed on the Oslo Stock Exchange under the ticker PNOR, was an oil and gas company with experience in oil and gas exploration, appraisal, development and production.

In its annual report issued on April 29, 2022, PetroNor disclosed that the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim) had entered the Company's premises in Oslo on December 15, 2021, as part of the agency's investigation into possible criminal offences committed by individuals related to the company, including its previous CEO. The investigation concerned possible corruption in connection with undisclosed projects in Africa. The following day, the company hired independent legal counsel to begin an internal investigation into any possible misconduct.

In its subsecuent quarterly report issued on May 27, 2022, PetroNor disclosed that the DOJ had initiated a related investigation into the company.

In a press release issued on April 2, 2025, PetroNor disclosed that the DOJ had informed the company that it was closing its investigation with no further action, due to the information that the DOJ had learned to date in the investigation and in the light of the executive order President Trump signed on February 10, 2025, pausing FCPA enforcement.

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