HOUSTON--(BUSINESS WIRE)--Jul. 27, 2017--
Halliburton Company (NYSE:HAL) today announced the resolution of the
previously disclosed investigations regarding the Company's operations
in Angola and Iraq. These investigations began after the Company
received an anonymous allegation in December 2010 of possible violations
of the Halliburton Code of Business Conduct and the Foreign Corrupt
Practices Act (FCPA), principally through the use of a vendor to satisfy
Angolan local content requirements. Halliburton promptly reported the
allegation to the Department of Justice (DOJ), conducted a thorough
internal investigation and cooperated with investigations by the
Securities and Exchange Commission (SEC) and the DOJ. Over the
intervening years, Halliburton also continuously enhanced its global
ethics and compliance program.
To settle the SEC investigation regarding the alleged conduct in Angola
and Iraq, Halliburton, without admitting or denying any of the factual
findings, has consented to the entry of an administrative order stating
that in connection with its use of a local content provider in Angola,
the Company violated the books and records and internal controls
provisions of the FCPA. The Company agreed to a total payment of $29.2
million for disgorgement, prejudgment interest and a civil penalty, and
to engage an independent consultant to review aspects of its compliance
program in Africa.
Separately, the DOJ has advised the Company that it has closed its
investigation and will not be taking any action.
About Halliburton
Founded in 1919, Halliburton is one of the world's largest providers of
products and services to the energy industry. With approximately 50,000
employees, representing 140 nationalities and operations in
approximately 70 countries, the company serves the upstream oil and gas
industry throughout the lifecycle of the reservoir - from locating
hydrocarbons and managing geological data, to drilling and formation
evaluation, well construction and completion, and optimizing production
through the life of the field. Visit the company’s website at www.halliburton.com.
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Source: Halliburton
Halliburton
For Investors:
Lance Loeffler,
281-871-2688
Halliburton, Investor Relations
Investors@Halliburton.com
or
For
Media:
Emily Mir, 281-871-2601
Halliburton, Public
Relations
PR@Halliburton.com
