Schlumberger Unit to Plead Guilty To Violating Iran, Sudan Sanctions

March 25, 2015

Author: 

Nicole Hong

Publication: 

Wall Street Journal

Related Country: 

  • Sudan
  • United States

The world's largest oilfield services company, Schlumberger Ltd., has agreed to pay $232.7 million to the United States for violating U.S. sanctions against Iran and Sudan.  A subsidiary, Schlumberger Oilfield Holdings Ltd., will also plead guilty to conspiring to violate the International Emergency Economic Powers Act by facilitating illegal transactions with sanctioned countries.  According to U.S. officials, Schlumberger facilitated the illegal export of drilling equipment to Iran and Sudan between 2004 and 2010.  The plea agreement includes a record $155.1 million criminal fine and the forfeiture of $77.6 million in profits.