British oil and gas services company Amec Foster Wheeler Plc (NYSE: AMFW) and individuals associated with the business are under investigation by the Serious Fraud Office (SFO), the company said July 11.
The investigation is focusing on the past use of third parties, bribery, corruption and related offenses, Amec said in a statement, adding that it is cooperating fully with the British fraud agency.
The SFO confirmed the investigation in a statement on its website.
Amec Foster Wheeler said the investigation is not expected to have an impact on completion of its planned 2.2 billion pounds(US$2.8 billion) takeover by John Wood Group. (US$1 = 0.7783 pounds)
Recommended Reading
Exxon Shale Exec Details Plans for Pioneer’s Acreage, 4-mile Laterals
2024-05-03 - Exxon Mobil plans to drill longer, more capital efficient wells in the Midland Basin after a major boost from the $60 billion Pioneer Natural Resources acquisition. Data shows that Exxon is a leading operator drilling 4-mile laterals in the Permian’s Delaware Basin.
Infrastructure Company Savage Acquires Houston’s Texon
2024-05-03 - Texon, a midstream service provider, will continue operations under its legacy brand.
NSTA Offers 31 More Licenses in Latest Licensing Round
2024-05-03 - The leasing round attracted 115 bids from 76 companies vying for 257 blocks and partial blocks in the U.K. Continental Shelf.
Occidental Explores Sale of Permian Assets Worth Over $1B, Sources Say
2024-05-03 - Occidental Petroleum is exploring a sale of assets in the Barilla Draw region of Texas, which is located within the Delaware portion of the Permian Basin.
Daugherty: Diamondback Scales Up Amid Consolidation Super Cycle
2024-03-11 - It’s time for the strongest among the services sector to follow Diamondback's lead: find fortifying prey and hunt.