Saipem to be investigated in Petrobras affair

By Sandy Guthrie13 August 2015

Oil and gas contractor Saipem is to be investigated in connection with the Petrobras corruption scandal in Brazil.

The Italian-based company said it had received notice of an impending investigation and a request for documentation from the Public Prosecutor in Milan, Italy, in relation to new criminal proceedings for the alleged crime of international corruption opened by the judicial authorities in Milan.

These proceedings concern a contract that the Brazilian company Petrobras awarded to Saipem SA (France) and Saipem do Brasil (Brazil) in 2011.

Two waves of convictions have already taken place in the corruption case, with executives from Brazilian contractor OAS and senior figures from Brazilian contractor Camargo Corrêa sentenced to jail or house arrest.

Saipem said that as on 12 August, the group had not received any notification about this matter from the judicial authorities in Brazil.

It said that it only knew from the press reports in June 2015 that the judicial authorities in Brazil had launched investigations concerning this contract against several Brazilian citizens, including a former consultant of Saipem do Brasil.

Saipem, which is part owned by Eni, said it was co-operating fully with the impending investigation. It added that in June, it had launched an internal audit having learnt that the enquiry had been opened in Brazil against the former consultant. The internal audit is still ongoing, it said.

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