Press

In a Split Decision, Oslo District Court Concluded That TGS is Guilty of Aiding and Abetting Violations of the Tax Assessment Act Related to a Contract Entered Into in 2009

Posted by OilVoice Press - OilVoice

05-Oct-2018


ASKER, NORWAY (5 October 2018) - Oslo district court has today proclaimed a guilty verdict in the case where Økokrim accused TGS-NOPEC Geophysical Company ASA (TGS) of aiding and abetting violations of the Tax Assessment Act related to a contract for the purchase of seismic data and services in 2009 with Skeie Energy AS (later known as E&P Holding AS). The court has sentenced TGS to pay a corporate fine of NOK 90 million (approximately USD 11 million). TGS has previously disclosed the charges from Økokrim in an announcement on 6 May 2014 and in subsequent financial statements.

TGS categorically disagrees with the majority's guilty verdict and will notion an appeal.



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