SFO charges two former Petrofac senior executives with bribery

Friday 16 Feb 2024 @ 16:25
Serious Fraud Office

The Serious Fraud Office (SFO) has today charged two former Petrofac senior executives Marwan Chedid and George Salibi, with bribery.

Mr Chedid and Mr Salibi, worked in various senior roles within Petrofac Group and were based in the United Arab Emirates.

From 2012 to 2018, the SFO alleges that between them, Mr Chedid and Mr Salibi were involved in offering and paying agents over $30 million USD to influence the awarding of contracts worth approximately $3.3 billion USD in Petrofac’s favour. The contracts related to oil facilities in the UAE, including one for the infrastructure and design of the second largest oil field in the Gulf – the Upper Zakum Field Development Project.

Mr Chedid and Mr Salibi are due to appear at Westminster Magistrates’ Court on 19 February 2024 to hear the charges against them.

Director of the Serious Fraud Office, Nick Ephgrave QPM, said:

“Bribery distorts financial markets, erodes trust in institutions and can undermine the global reputation of UK business.

“We are committed to holding both companies and executives to account when we believe they have committed serious economic crimes.”

Channel website: https://www.sfo.gov.uk/

Original article link: https://www.sfo.gov.uk/2024/02/16/sfo-charges-two-former-petrofac-senior-executives-with-bribery/

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