30 Mar 2015

Statement by Sembcorp Marine Ltd

By the Company’s announcements of 6 February 2012, 8 August 2012 and 29 November 2012, the Company announced that the Company’s subsidiaries had secured a number of drill rig construction contracts (the “Contracts”) with subsidiaries of Sete Brazil, a company in which Petrobras has an interest.

By the Company’s announcement of 8 February 2015, the Company, among other things, referred to various media reports which reported statements made by Petrobras’ former engineering manager Mr Pedro Jose Barusco. Those reports reported, among other things, that Mr Barusco had made statements to the effect that illegal payments had been made in connection with contracts entered into by Petrobras and/or Sete Brasil.

The Company had earlier initiated an internal investigation and engaged lawyers for the purposes of obtaining legal advice.

The Company has received a copy of what is said to be a plea bargain between the Brazilian authorities and Mr Barusco in which Barusco makes allegations against one Guilherme Esteves de Jesus (“GDJ”) in connection with the Contracts. GDJ is connected to companies which were engaged by these subsidiaries as consultants in connection with the Contracts.

The Company learnt on 28 March 2015 that arising from allegations made by Barusco, GDJ was arrested by the Brazilian authorities on 27 March 2015.

The Company is unable to comment on the truth or otherwise of these allegations and its internal (legally privileged) investigations are continuing.

The Company and the Group have a strict anti-bribery policy and do not condone any action that will result in the violation of any country’s anti-corruption laws. The Company and the Group also do not and will not tolerate any improper business conduct.

For media enquiries, please contact:

Ms Lisa Lee
Senior Vice President
Investor Relations & Communications
Tel No : 65-62627107
Fax No : 65-62610738
Email : lisa.lee@sembmarine.com

For the complete PDF version of this release, please click here.