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(Image courtesy of SBM Offshore)

SBM Offshore announced Thursday it will not participate in bidding for two major Brazilian offshore floating production facilities.

The company, currently under investigation for alleged bribery of Brazilian government officials, had planned to bid for the Tartaruga Verde and Libra FPSO tenders.

The Brazilian Senate is investigating allegations that officials at Petrobras took bribes in exchange for steering contracts to SBM.

Brazilian authorities have said the company could not take part in the tenders while under investigation.

Last month the company reported it was in talks with the government about the exclusion.