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Thursday, January 29, 2015
The US Securities and Exchange Commission (SEC) has concluded its investigations into Cobalt International Energy, Inc. The company received a termination letter from (SEC) advising Cobalt that its FCPA investigation relating to the company’s operations in Angola is complete.
According to the termination letter the Staff said that it does not intend to recommend any enforcement action by the SEC.
The letter formally concludes the SEC’s investigation, which began in 2011 in response to allegations of a connection between the company, senior Angolan government officials, and Nazaki Oil and Gaz, S.A., an Angolan company that, until 2014, held a working interest alongside Cobalt on Blocks 9 and 21 offshore Angola.
Joseph H. Bryant, Cobalt’s chairman and CEO, stated, “We are of course pleased with the closure of the SEC’s investigation. We have the utmost respect for the SEC and its investigative process, and cooperated fully with the SEC. Cobalt remains committed to conducting operations and creating shareholder value transparently and in compliance with all applicable laws and regulations.”
While the SEC has terminated its investigation the company is still under investigation by the US Department of Justice (DoJ). Cobalt said that it continues to cooperate with the DoJ with regards to its parallel investigation.
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