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Exterran FCPA investigation ends without enforcement action

Jaclyn Jaeger | March 1, 2018

Exterran disclosed in its annual report that it will not be facing an enforcement action following a Foreign Corrupt Practices Act investigation into equipment contracts for desalination plants in the Middle East.

Exterran engages in the compression, production, and processing of various products and services for the production and transportation of oil and natural gas worldwide. In March 2016, the audit committee of Exterran’s board of directors retained legal counsel to conduct an internal investigation “related to the application of percentage-of-completion accounting principles to specific Belleli EPC product sales projects,” the annual report stated. “Our Belleli EPC business had historically been comprised of engineering, procurement and construction for the manufacture of tanks for tank farms and the manufacture of evaporators and brine heaters for... To get the full story, subscribe now.