Norwegian prosecutors have charged two individuals and a subsidiary of Oslo-listed PetroNor E&P with paying tens of millions of dollars in bribes to people close or related to Congo’s president to secure oil licenses, according to an indictment shared with the Organized Crime and Corruption Reporting Project (OCCRP) on Wednesday.
The indictment, issued by Norway’s economic crime authority Økokrim, describes the case as “grand corruption,” alleging that senior political figures were targeted with bribes of exceptionally high value in connection with oil operations in the Republic of Congo from 2016 onward.
The two Norwegians charged, Knut Søvold and Gerhard Ludvigsen, were senior executives of Hemla Africa Holding, the PetroNor subsidiary implicated in the case, and held leading operational roles in the company’s African oil ventures at the time of the alleged scheme.
Økokrim alleges that the bribes were paid alongside applications for and the awarding of stakes in the PNGF Sud offshore oil licenses. The benefits were allegedly funneled to companies controlled by close family members of Congo’s president. Norway does not have jurisdiction over the alleged recipients and has not assessed their criminal liability.
According to the indictment, the alleged bribes included granting presidential relatives a roughly 25 percent ownership stake in a company holding a 20 percent interest in the PNGF Sud license, the provision of interest-free loans totaling at least five million euros and $15 million that were later forgiven or treated as advance dividends, monthly payments totaling more than $1.1 million, and dividend transfers that Økokrim says generated at least $24.7 million in benefits by 2024.
Prosecutors also allege that a $100,000 payment in 2019 was intended to support an election campaign by a close family member of the Congolese president and was disguised through false invoices, forming part of additional charges of accounting violations against the two Norwegian defendants.
Økokrim said Monday that its investigation uncovered a broader cross-border scheme involving multiple exporters and intermediaries, supported by extensive international cooperation, including with authorities in France, Monaco and the United States. The case originated from a suspicious bank transaction to Monaco flagged by financial intelligence authorities there.
The company charged in the case, Hemla Africa Holding AS, is a wholly owned indirect subsidiary of PetroNor E&P ASA and the majority shareholder of Hemla E&P Congo, which holds the PNGF Sud license stake.
In a statement, PetroNor said it “categorically contests” the indictment of Hemla and welcomed the opportunity to have the case examined in court. The company noted that Økokrim had dropped suspected market manipulation allegations and said it would continue operating in the normal course of business while court proceedings are pending.
Økokrim said the indictment has led to criminal investigations in three EU member states and prompted stronger monitoring and risk profiling of future exports linked to sanctions enforcement.
