Norwegian police have charged an oil company, Hemla Africa Holding AS, and two executives with allegedly paying millions in bribes to family members of Congo Republic President Denis Sassou Nguesso. The investigation began after Monaco police requested assistance regarding a suspicious bank transaction, with support from other nations, including France and the U.S. The National Authority for Investigation and Prosecution of Economic and Environmental Crime reported that the bribes are significantly high and linked to the president’s close relatives.
Hemla Africa, a subsidiary of Oslo-listed PetroNor, controls a 20% stake in the offshore PNGF Sud licence. PetroNor has denied any wrongdoing and is eager for the case to be resolved in court, although its shares dropped by 10.5% following the indictment. The investigation revealed that MGI International, associated with the president’s family, held a 25% stake in Hemla E&P Congo and received nearly $25 million in dividends from 2018 to 2024.
The accused executives, Knut Soevold and Gerhard Ludvigsen, have denied any criminal guilt and plan to defend themselves vigorously. They assert that all agreements were made on commercial terms, unrelated to corruption. Norway lacks jurisdiction over the individuals who received the payments, according to police statements.
