Petrobras’ profit could be reduced by $15 billion between 2014 and 2018 if it has to suspend contracts for oil platforms with SBM Offshore, the Brazil company said in a securities filing.
The profit reduction estimate is based on how much it would cost the company, in both lost product and replacement costs, were they to stop using SMB floating production platforms.
According to the filing, the loss estimate was requested by Brazil’s Office of the Comptroller General (CGU).
The CGU is the Brazilian federal agency responsible for the protection of public property.
SBM is the subject of investigations in Brazil, the United States, and the Netherlands over the alleged payment of $250 million in bribes in Africa and South America.
It is alleged that $139 million in bribes were paid in Brazil.
The CGU opened an investigation into SBM’s contracts with Petrobras in April.
Petrobras said that the losses are hypothetical, and that the Comptroller General has not recommended that contracts with SBM be suspended.