The Crown Office would be to regain #6.46 million under proceeds of crime law following an Aberdeen company approved it had profited from unlawful behaviour.
WGPSN confessed among its subsidiaries, PSNA Limited, had profited from obligations made to Unaoil to procure contracts in Kazakhstan.
The effective contracts were entered into in 2008 and 2010 with a joint venture where PSNA Limited held a curiosity.
The contracts have been entered into prior to the PSN company was acquired by Wood and the possible misconduct came to light at March 2016, when media reported on widespread corruption by petroleum and gas advisers Unaoil. The reports stated Unaoil had functioned together with WGPSN in Kazakhstan.
Wood ran an internal evaluation andin May 2017, the outcomes of the analysis were submitted into the Crown Office and Procurator Fiscal Service (COPFS). WGPSN went to submit an official report below the self-reporting initiative in September 2019. After thought, COPFS called the situation to the Civil Recovery Unit for evaluation.
WGPSN has agreed to cover #6,465,564, which signifies the dividends and retained profits in both contracts.
Wood and WGSPN have taken measures to develop and enhance its policies and instruction to attempt to avoid similar events happening later on.
Lord Advocate James Wolffe QC stated:”Bribery and corruption threaten legitimate company and harm economic improvement. Businesses are responsible for making sure they don’t let their workers or contractors to procure any commercial benefit through bribery.
“COPFS and the Civil Recovery Unit are dedicated to taking effective actions to ensure companies face up to their duties and relinquish any unlawfully obtained profits.
“Any employers who find any cases of bribery need to inform the Crown Office as soon as possible”
Anne-louise House, head of the Civil Recovery Unit, stated:”The self-reporting initiative permits for responsible organizations to accept their participation in corrupt practices and also to draw a line beneath preceding behavior.
“In proper circumstances like this, it provides the chance to settle the illegitimate profits instead of criminal proceeding.
“The capital that have been retrieved will be remitted into the Consolidated Fund.”