Petrofac Suspends COO Amid Fraud Probe
Oilfield services provider Petrofac (POFCF) has suspended Chief Operating Officer Marwan Chedid until further notice after Britain's Serious Fraud Office (SFO) questioned him as part of an investigation into Monaco-based Unaoil.
The SFO launched a criminal investigation into Unaoil, its officers, employees and agents in July last year in connection with suspected bribery, corruption and money laundering.
As part of its investigation, the SFO arrested and questioned Petrofac Chief Executive Ayman Asfari and Chedid under caution and were released without charge.
Petrofac said in a statement on Thursday that Asfari would continue in his role and a separate committee would be responsible for the company's engagement with the SFO.
Petrofac used Unaoil, an energy services firm, to provide local consultancy services in Kazakhstan between 2002 and 2009.
Reporting by Rahul B
