Oil Services giant to pay $232.7 million to end Justice Department investigation into work for Iran, Sudan
By NICOLE HONG
Updated March 25, 2015 3:53 p.m. ET

Schlumberger Ltd., the world’s largest oil-field services company, has agreed to pay $232.7 million for violating U.S. sanctions in Iran and Sudan, part of the government’s extended crackdown on companies doing business with countries the U.S. has declared off limits.

The U.S. Justice Department is expected to announce the plea agreement Wednesday afternoon, according to a person familiar with the situation. As part of the agreement, Schlumberger is expected to pay a $155.1 million criminal fine—the biggest criminal fine ever imposed for a U.S. sanctions violation—and forfeit $77.6 million in illegally obtained profits, according to the person.

Schlumberger Oilfield Holdings Ltd., a Schlumberger subsidiary, is expected to plead guilty to conspiring to violate the International Emergency Economic Powers Act, or IEEPA, which allows the government to block transactions with countries under sanctions.

The agreement caps a six-year investigation by the Justice Department and the U.S. Commerce Department. Details of the deal between government lawyers and Schlumberger were completed on Wednesday, according to the person familiar with the situation. More

wsj.com

Drop in the bucket, considering that Schlumberger operates in 85 countries, having one of its headquarters in Houston. However, it appears to be having a “tough time” since oil prices have fallen and announced a 9K job reduction in Jan.