Cobalt International Energy Inc. reported Feb. 9 that it received a letter from the Department of Justice (DOJ) indicating that the DOJ has closed its FCPA investigation to Cobalt’s operations in Angola. This formally concludes the DOJ’s investigation, which was the last remaining FCPA investigation by a regulatory agency into Cobalt’s Angola operations.
As a result, the press release reported, no regulatory action was taken against Cobalt.
The press release reported that the DOJ and the Securities and Exchange Commission began investigating Cobalt’s operations in Angola in 2011 in response to allegations of a connection between senior Angolan government officials and Angola’s Nazaki Oil and Gaz SA, that until 2014 held a working interest alongside Cobalt on Blocks 9 and 21 offshore Angola. The SEC investigation concluded in January 2015 without any enforcement action.
Timothy J. Cutt, CEO, said that Houston-based Cobalt “has been and is firmly committed to conducting its operations in compliance with all applicable laws and regulations, including the FCPA.”
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