Transocean Mentioned in Petrobras Scandal

Transocean Ltd., a top offshore drilling company, has been mentioned in testimony in a corruption investigation focused on Brazil's state-run oil firm Petroleo Brasileiro SA, Brazilian court documents showed.

Former Petrobras executive Eduardo Costa Vaz Musa, who is collaborating with prosecutors in the southern city of Curitiba, said in plea bargain testimony that he was offered payments in 2007, if the Switzerland-based company won a drillship contract.

According to court documents made public this week, Musa told prosecutors he began receiving payments in 2012 after Transocean won a contract to operate the Petrobras 10,000 drilling rig.

Among the people Musa said he discussed receiving payments with was a man who identified himself as a representative of Transocean.

Transocean said in a statement that it has a long-standing commitment to uphold the highest standards for corporate ethics and compliance and requires employees and everyone making visits on its behalf to adhere to high standards for integrity.

Shares in Transocean fell 4.8 percent on the New York Stock Exchange.

Prosecutors say more than a dozen foreign firms are being investigated in the Petrobras probe and many are collaborating.