CALGARY - Griffiths Energy has agreed to pay a $10.35 million fine after pleading guilty to a bribery charge for payments made to officials in Chad.
The Calgary-based company disclosed last week that it had been charged under a Canadian law called the Corruption of Foreign Public Officials Act.
The company admits it paid $2 million to officials in Chad to get an advantage in two exploration blocks in the oil-rich African country.
The contracts were signed by a previous management team that left Griffiths in July 2011.
The current management team discovered the suspect contracts as they were doing preparations for a public offering of stock.
Results of the company's internal investigation were handed over to Canadian and U.S authorities.