By BFN News | 01:34 PM | Tuesday 16 March, 2021 WGSPN, a subsidiary of John Wood Group, has reached a civil settlement with Scotland s Civil Recovery Unit in relation to the historical engagement of Unaoil by a legacy joint venture and potential unlawful conduct.
The civil settlement relates to conduct in Kazakhstan in the period between 2008 and 2010.
A joint venture in the legacy PSN business, which was acquired by Wood in 2011, paid Unaoil a total of 1,358 million Kazakhstan Tenge (then approximately US$8.74m) in fees. Payments were on a commission basis and continued until 2015 although there is limited evidence of what services Unaoil provided for these fees.
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