The U.S. Justice Department has opened an investigation into Norway’s PetroNor E&P AS A following allegations of corruption at the oil-and-gas company’s operations in West Africa.
Probe comes after a December raid by Norwegian authorities of PetroNor’s offices in Oslo and the arrest of its then chief executive, Knut Søvold.
*WSJ tweet on PetroNor
.@TheJusticeDept has become involved in a corruption investigation focused on individuals at Oslo-listed oil and gas exploration and production company PetroNor that has grown to include its U.S. citizen chairman of the board https://t.co/wizxHTJ1lM#RegulatoryEnforcement
— Compliance Week (@complianceweek) April 15, 2022
The company said that the raid was related to criminal charges against individuals involved with the company.
PetroNor this week said its chairman, Eyas Alhomouz, had been named a suspect in the investigation by Norway’s National Authority for Investigation and Prosecution of Economic Crimes.
The Justice Department opened its own probe based on information provided by the Norwegian agency, known as Økokrim, the company added.
Mr. Alhomouz is a U.S. citizen, according to PetroNor’s statement. He also serves as the chief executive of Petromal, the oil-and-gas arm of an Abu Dhabi-based investment firm..
The company this week said the investigations are related to criminal charges against Mr. Søvold and an unnamed business companion, both of whom hold shares in PetroNor through holding companies.according to WSJ