By SUMMER SAID
DUBAI -- State-owned oil giant Saudi Aramco is investigating
contracts it awarded to a subsidiary of Tyco International
after an announcement last week that the Switzerland-based
company agreed to pay more than $26 million to settle foreign
bribery charges brought by the US Justice Department and the
Securities and Exchange Commission, a person familiar with the
Saudi Aramco has suspended further dealings with Tyco Valves & Controls Middle East, a
Tyco International subsidiary, while it looks into contracts it
signed with the firm between 2003 and 2006, according to the
person, who requested anonymity.
Tyco Valves & Controls, which markets
valves and other industrial
equipment throughout the Middle East, pleaded guilty last week
in a US court to paying bribes to officials employed by Saudi
Aramco in order to obtain contracts with the Saudi
government-controlled oil and gas company.
As part of its internal probe, Saudi Aramco will ask Tyco to
provide it with the names of any of its employees who were
involved in receiving the bribes, the person familiar with the
Saudi Aramco is fully owned by the Kingdom of Saudi Arabia.
It is one of the largest oil and gas companies in the world
with activities in exploration, production, refining, distribution, shipping and
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