Keppel Offshore & Marine Ltd., the world’s biggest builder of oil rigs, agreed to pay $422 million to end a U.S. bribery probe into illegal payments to officials at Petroleo Brasileiro SA, Brazil’s state-owned oil company, and to the then-governing political party.
Keppel units paid about $55 million to win 13 contracts with Petrobras and another company, U.S. prosecutors said in a press release after an American subsidiary pleaded guilty in federal court in Brooklyn, New York. The payments were part of outsize commissions to an intermediary and disguised as consulting agreements, according to prosecutors.
