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WASHINGTON, Nov 26 (Reuters) - Oilfield services firm Weatherford International reached a $253 million settlement with several U.S. government agencies on charges that include sanctions violations and bribery, the company said on Tuesday.
Weatherford was charged with exporting oil and gas equipment to Iran, Syria, Sudan and Cuba in violation of sanctions, and exporting prohibited items tied to nuclear non-proliferation to Venezuela and Mexico.
The charges also include Foreign Corrupt Practices Act breaches and violations in the Iraq oil-for-food program.
The charges stem from probes by the Department of Justice and Securities and Exchange Commission going back to 2007, including one involving the embezzlement of $175,000 in payments to government officials in Europe, according to company filings.
The company had estimated the settlement fine, based on U.S. investigations that go back six years, earlier this month.
The settlement includes $100 million for the sanctioned countries penalty and $153 million for the second two issues. The agencies involved are the Justice Department, the Securities and Exchange Commission, and the Departments of Treasury and Commerce.
As part of the settlement, the company agreed to hire an outside auditor to ensure compliance in its dealings with Cuba, Iran, North Korea, Sudan and Syria from 2012 to 2014. (Reporting by Anna Yukhananov; Editing by Vicki Allen)
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