A Norwegian oil company and two executives have been charged with paying millions of dollars in bribes to close family members of Congo Republic President Denis Sassou Nguesso. The charges stem from a suspicious bank transaction that caught the attention of Monaco police, who then sought assistance from Norway, France, and the United States. According to investigators, substantial assistance was provided by these countries in the investigation.
The accused company, Hemla Africa Holding AS, controls a 20% stake in the offshore PNGF Sud licence via Hemla E&P Congo. PetroNor, the parent company of Hemla, categorically contests the indictment and has welcomed the chance to have the case examined in court. The company's share price took a hit following the news.
MGI International, controlled by President Sassou Nguesso's family, received close to $25 million in dividends between 2018 and 2024. Other payments were made in parallel with the application for the oil licence in Congo. Hemla co-founders Knut Soevold and Gerhard Ludvigsen will stand trial alongside the company, denying any criminal guilt and stating that all agreements with the Congolese company are on commercial terms.
The PNGF Sud licence lies in shallow waters off the coast of the Republic of Congo and encompasses several producing fields operated by Perenco, an independent Anglo-French oil company. The charges highlight the complex web of international relationships and corruption that can occur in the oil industry. It is unclear how these events will unfold or what implications they may have for the individuals involved.
The Congolese government has not yet commented on the matter.
This case highlights the need for increased transparency and accountability in international business dealings, particularly in high-stakes industries like oil. As Norway continues to investigate these allegations, it will be crucial to ensure that all parties involved are held to the highest standards of integrity.
