Koch to report Økokrim prosecutor

Tax lawyer Sverre E Koch said he planned to report Morten Eriksen, the top prosecutor of Norway’s economic crime unit Økokrim, for serious dereliction of duty. Koch was fully acquitted from any further appeal in the Transocean tax case on Wednesday, and was finally free to speak out against the way the case had been […]

Økokrim appeals Transocean case

Economic crime unit Økokrim announced on Wednesday it would appeal parts of the Transocean judgment, Norway’s largest ever tax fraud case. The Oslo city court acquitted all parties to the nine-year investigation earlier this month, but the unit said it would appeal three of the five matters involved. When the case was dismissed, Økokrim was […]

Transocean tax case fallout continues

All charges were thrown out in Norway’s largest ever tax case last week, but the heated debate continued as the ramifications of the Transocean decision were picked apart. On Monday, former Transocean board member Kristian Siem accused the Norwegian authorities of being too aggressive before anything had been legally proven and said all companies had […]

Transocean jubilant after tax victory

The world’s largest offshore rig company, Transocean, and three of its tax advisers were celebrating this week after being acquitted of tax evasion by an Oslo court on Wednesday. A nine-year investigation into alleged underpayment of taxes left Norwegian prosecutors with a crushing defeat that they refused to acknowledge. Tax authorities first became suspicious of Transocean’s Norwegian operations […]

Oil field found in 1975 finally running

Oil and gas was first discovered in the Gudrun field in the North Sea 1975, but the drilling technology of the day was no match for the high pressure, high temperature reserve. After decades of development, production finally began at the Statoil-owned platform on Monday morning. “Gudrun is the first new Statoil-operated platform to come […]

Wealthy Bergen heir under probe

One of Norway’s wealthiest and most philanthropic families hasn’t had a very merry run-up to the Christmas holidays this year. Frederik Wilhelm Mohn, third-generation owner of the family-run Bergen-based international firm Frank Mohn AS, was reported to the state police’s white-collar crime unit (Økokrim) this week on suspicion of insider trading, just weeks after he surprisingly […]

Rig tax evasion case underway

The largest tax evasion case in Norwegian history was due to enter its second week on Monday, with prosecutors claiming that tax advisers for Houston-based rig firm Transocean must have known they were misleading tax authorities. Raids on Transocean’s offices in Stavanger and years of investigation have led to the firm, its advisers and affiliates […]

Seadrill sells rigs, moves to London

Seadrill, the large Norwegian-controlled oil rig firm, is selling 18 rigs to a Malaysian company and moving its headquarters, as widely expected, from Stavanger on Norway’s west coast to London, reports newspaper Dagens Næringsliv (DN). Seadrill officials wouldn’t publicly confirm the move to London, which greatly disappointed local government and business leaders in Stavanger, but […]