Italy Court Acquits Saipem, Eni In Algeria Corruption Case

January 15, 2020

Illustration; A Saipem vessel - Image by Ciacho5 - Wikimedia Commons - Shared under CC BY-SA 3.0 license
Illustration; A Saipem vessel - Image by Ciacho5 - Wikimedia Commons - Shared under CC BY-SA 3.0 license

An Italian appeals court said on Wednesday it had acquitted oil services group Saipem and oil major Eni of alleged corruption charges in Algeria.

The court also acquitted a series of other defendants, including former Eni Chief Executive Paolo Scaroni.

The long-running case revolves around allegations Saipem paid intermediaries about 198 million euros to secure contracts worth 8 billion euros ($9 billion) with Algeria's state-owned Sonatrach.

Saipem is jointly controlled by Eni and state lender Cassa Depositi e Prestiti. When Scaroni was Eni CEO it was 43 percent owned by the energy major.


($1 = 0.8969 euros) 

(Reporting by Emilio Parodi and Alfredo Faieta, writing by Stephen Jewkes, editing by Valentina Za)



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