UK-based services firm Petrofac is hoping to put a scandal-riven few years behind it after a UK court on 4 October found it guilty on seven counts of bribery involving payments of $44mn to secure $3.5bn of contracts in Gulf countries between 2011 and 2017.

In a case brought by the UK’s Serious Fraud Office, Jersey-registered Petrofac was fined £77mn ($105mn) including costs for “failing to prevent former senior executives of the Petrofac group from using agents to systematically bribe officials, to win oil contracts in Iraq, Saudi Arabia and the United Arab Emirates.” (CONTINUED - 722 WORDS)