Ex-Petrofac executive pleads guilty to 11 counts of bribery

LONDON (Reuters) - A former executive at British oil firm Petrofac has pleaded guilty to eleven counts of bribery as part of an ongoing Serious Fraud Office investigation into the company and its subsidiaries, prosecutors said on Thursday.

David Lufkin, 51, a British national and previously global head of sales for Petrofac International Limited, entered his pleas at Westminster Magistrates’ Court on Wednesday.

The SFO said the charges related to the making of corrupt offers to influence the award of contracts to Petrofac worth in excess of 730 million dollars in Iraq and in excess of 3.5 billion dollars in Saudi Arabia.

The SFO said its investigation into Petrofac’s use of agents in multiple jurisdictions, including Iraq and Saudi Arabia, is ongoing. Lufkin will be sentenced at a later date, prosecutors added.

The SFO first said it had begun an investigation into Petrofac in 2017 as part of a wider probe into Monaco-based oil and gas consultancy Unaoil.

Petrofac said last February that it expected its top management to be interviewed as part of the SFO investigation.

Petrofac did not immediately respond to a request for comment.

Reporting by Iain Withers; Editing by Rachel Armstrong