Seadrill has moved to distance itself from the Petrobas corruption scandal which has embroiled Sevan, in which it has a controlling stake.
In a statement to the Norwegian stock exchange, Seadrill told investors: “The company makes reference to the announcements by Sevan Marine and Sevan Drilling in regards to the ongoing investigation into corrupt activities involving Petrobras.
“The charges made against Sevan Drilling relate to contracts awarded during the 2005-2008 time period, prior to both Seadrill’s initial acquisition of a minority stake in Sevan Drilling and acquiring control.”
At the time the Petrobras contracts were awarded, Sevan Drilling was a wholly-owned division of Sevan Marine.
In May 2011, Sevan Drilling was separated out from the 100% ownership of Sevan Marine and listed separately on the Oslo stock exchange.
In December 2011 Seadrill acquired a 28.5% stake in Sevan drilling and ultimately increased its stake to 50.11% in July 2013.
It added: “Seadrill remains committed to the highest ethical standards. The company will cooperate if requested to do so by any and all authorities in relation to the ongoing investigation.”
Sevan Drilling confirmed on Friday it has been accused of breaches of the Norwegian Criminal Code in respect of payments made in connection with the performance during 2012-2015 of drilling contracts originally awarded by Petrobras to Sevan Marine in the period between 2005-2008.
Norwegian authorities have performed a search and seizure in the company’s offices.