From Houston (BN): SBM Offshore is pressing Brazil for clearance to resume bidding for work there despite ongoing investigations into money-laundering, bribery and kickbacks.

In a painfully detailed statement, SBM said despite media reports, it has received no formal notification of any proceedings against it in Brazil, but is talking to the authorities there to resolve any lingering questions.

The company reiterates its own inquiry earlier this year found ‘certain red flags’ in Brazil dealings, but ‘did not find credible evidence’ that SBM or its agents paid bribes.

Dutch prosecutors’ findings that an SBM agent made improper payments arose from investigative means unavailable to the company and a $240mn out-of-court settlement closed that case.

SBM has had a new board since early 2012 - all alleged wrongdoing occurred before that - and Dutch authorities are satisfied with tighter compliance measures now in place.

‘SBM...feels strongly there should be no impediment for it to resume its bidding activities in Brazil as soon as possible,’ the company statement said. It will ‘do what is necessary to preserve its reputation’ but will not respond to every report that arises as the investigation progresses.

Still, the bad news keeps on coming. The latest is that that a mid-level Petrobras executive has pledged to return an astounding $100mn in ill-gotten gains – including payments from SBM.

The executive reportedly has offered to testify against superiors, one of whom a judge has ordered into protective custody. There also have been reports the US Securities & Exchange Commission is investigating.

In a related development, Petrobras’ board has approved a new position entitled director of governance, risk and compliance. The company says it aims to choose a person well-known in that field to assure propriety in Petrobras operations and compliance with laws, rules, standards and regulations governing corporate conduct.