A Petrofac facility in Tunisia.
Photo: Reuters
A U.K. court on Monday fined Petrofac Ltd. 77 million pounds (equivalent to $104.3 million) in relation to bribery offenses.
The provider of services to the energy industry said the penalty was related to seven offenses related to projects awarded between 2012 and 2015.
Petrofac had said Friday that $240 million had been outlined as the maximum possible penalty in the hearing, before making any reductions.
The company said the Southwark Crown Court and the Serious Fraud Office acknowledged the company’s “corporate reform” in determining the penalty.
“This draws a line under a regrettable period of our history. We have taken responsibility, reformed and learned from these past mistakes,” Chairman René Médori said in a statement.
Shares in Petrofac were up 6.7% at 186 pence in late afternoon trading in London.
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