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Halliburton, KBR had talks with U.S. on probe-filing

Fri Jul 25, 2008 5:15pm EDT
 
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By Anna Driver

HOUSTON (Reuters) - Halliburton Co (HAL.N: Quote, Profile, Research, Stock Buzz) and KBR Inc (KBR.N: Quote, Profile, Research, Stock Buzz), its former engineering and construction arm, have held talks with U.S. regulators and prosecutors to settle allegations the companies violated U.S. bribery laws, Halliburton said in a filing on Friday.

"From time to time, we and KBR have engaged in discussions with the SEC and the DOJ regarding a settlement of these matters," Halliburton said in a filing with the U.S. Securities and Exchange Commission.

Halliburton said there is no assurance a settlement can be reached.

The companies are under investigation by the United States and other governments for allegedly making improper payments to officials in Nigeria in violation of the U.S. Foreign Corrupt Practices Act (FCPA).

The long-running probes are related to the construction and expansion of a gas liquefaction facility at Bonny Island in Rivers State, Nigeria, as well as other projects dating back as far as 20 years, the filing said.

The U.S. government is investigating Halliburton and a number of other oil field services for possible violations of the FCPA. Under that law, it is illegal for U.S. companies or their agents to use bribery to win business in foreign countries.

Halliburton said in previous government filings that it has "reason to believe" payments may have been made to Nigerian officials by agents of its TSKJ consortium, which built the Bonny Island facility.

The TSKJ consortium also includes France's Technip SA(TECF.PA: Quote, Profile, Research, Stock Buzz), Snamprogetti (ENI.MI: Quote, Profile, Research, Stock Buzz) of Italy and Japan's JGC Corp (1963.T: Quote, Profile, Research, Stock Buzz).  Continued...

 

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