Scottish energy services company prepares for global bribery settlement

In a March 10, 2020 news release, John Wood Group plc, a Scottish energy services company, announced that it had reserved $46 million in anticipation of resolving bribery investigations by enforcement authorities in the US, Scotland, and Brazil.

In April 2017, a John Wood predecessor company, Amec Foster Wheeler (AFW), disclosed that it had received voluntary requests for information from the US Securities and Exchange Commission (SEC) and the US Department of Justice (DOJ) in connection with its dealings with Unaoil, and in July 2017 AFW disclosed that the UK Serious Fraud Office (SFO) was also investigating it.  John Wood acquired AFW in October 2017, and subsequently disclosed that it was conducting an internal investigation into the engagement of Unaoil by legacy John Wood entities.  It later confirmed that a legacy joint venture had made payments to Unaoil, and that—in addition to the DOJ, SEC, and SFO—Scottish and Brazilian authorities were also looking into this conduct. 

In its March 10, 2020 news release disclosing the $46 million reserve and anticipated resolution with US, Scottish, and Brazilian authorities, John Wood stated that it could potentially face further civil and criminal consequences in relation to the investigation by the SFO.

News release and year-end results 2019 

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