Technip, a market leader in oil, gas, and petrochemical engineering, construction and services, announced in its fourth quarter earnings release that it has reserved €245 million for an exceptional charge related to a potential FCPA settlement.
Technip previously reported in its filings that it had been cooperating with the SEC and DOJ in ongoing investigations involving the joint venture company TSKJ, in which Technip has a 25% share.
According to the press release, Technip has discussed with the SEC and DOJ a resolution of all potential claims against the company arising from the investigation. “Our discussions with the SEC and DOJ have intensified over the last weeks. There is now a roadmap to a satisfactory global resolution of all potential claims in the US arising from the investigation” said Technip Chairman and CEO Thierry Pilenko.