Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Vantage Drilling Company Self-Reports FCPA Probe

Jaclyn Jaeger | August 10, 2015

Offshore drilling contractor, Vantage Drilling Company, announced this month in a filing with the Securities and Exchange Commission that it has launched an internal investigation into potential violations of the Foreign Corrupt Practices Act.

In an Form 10-Q, published on Aug. 4, Vantage said it “became aware of media reports” in July that one of its agents in Brazil used in the contracting of the Titanium Explorer drillship “has entered into a plea arrangement with the Brazilian authorities in connection with the agent’s role in obtaining bribes on behalf of former Petrobras executives.”

Vantage said it confirmed that the agent provided evidence to the Brazilian authorities of an “alleged bribery scheme between the former Petrobras executives and a former director of Vantage.” The director, Hsin-Chi Su, was the sole owner of the company that owned Titanium Explorer at...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.