* Halliburton has briefed DOJ/SEC on investigation
* Halliburton, rivals all well versed in FCPA matters
By Braden Reddall
Oct 21 U.S. oilfield services company
Halliburton Co conducted an internal investigation of
its Angolan operations after an anonymous email alleged its
employees breached corruption laws.
The disclosure on Friday comes only months after
Halliburton closed the book on the final bribery probe related
to $6 billion worth of contracts awarded for a Nigerian project
to former subsidiary KBR Inc .
The Angola-related email arrived in December 2010, and said
certain current and former Halliburton personnel violated the
U.S. Foreign Corruption Practices Act (FCPA), principally
through the use of an Angolan vendor, Halliburton said.
"The email also alleges conflicts of interest, self-dealing
and the failure to act on alleged violations of our COBC (Code
of Business Conduct) and the FCPA," the Houston-based company
said in a Securities and Exchange Commission (SEC) filing.
After advising the U.S. Department of Justice of the probe,
which includes assistance from outside lawyers and independent
forensic accountants, Halliburton met last quarter with the DOJ
and SEC to brief them and provide them documents, it said.
The company described the investigations as "at an early
stage" and could not predict their outcome or consequences.
FCPA investigations are not uncommon in the industry.
Weatherford International Ltd has faced four
years of scrutiny over its part in Iraq's oil-for-food program,
along with its past operations in certain sanctioned countries,
including Sudan and Iran.
The DOJ and SEC are probing Weatherford's FCPA compliance
and the embezzlement of $175,000 in payments to government
officials in Europe, according to company filings.
In 2007, Baker Hughes Inc settled investigations --
disclosed four years prior -- into its operations in Angola,
Kazakhstan and Nigeria, for a total of $44 million.
And last November, The Wall Street Journal reported that
industry leader Schlumberger had investigated bribery
charges in Yemen.