Vantage Drilling Self-Reports Potential FCPA Violation

Brazil Petrobras

On August 4, Vantage Drilling Company, an international offshore drilling contractor, acknowledged that an overseas agent had entered into plea discussions with Brazilian authorities and provided evidence in the ongoing corruption investigation focused on Petrobras.  Vantage acknowledged that the agent had purportedly provided evidence related to a former director of Vantage and Petrobras.  The company disclosed that it had opened an internal investigation and self-reported the matter to the DOJ and the SEC. The Brazilian corruption investigations into Petrobras and its affiliates and counterparties continue to expand with no end in sight, and the expected related U.S. investigations are beginning to be disclosed.