Eni denies bribery in Nigeria bid

LAGOS, September 17, 2014 – Last week Eni denied any wrong doing after investigators in Milan opened a bribery investigation into its 2011 acquisition of a stake in an offshore block from the Nigerian government.

Eni’s Nigerian subsidiary, Agip Exploration acquired a 50-percent operating stake in Oil Prospecting License 245 with Shell Nigeria E&P, with the latter retaining the remaining 50 percent, Shell has also denied any impropriety. The total deal was worth an estimated $1.1 billion.

An inquiry has been launched over alleged illegal payments from Eni to Nigerian individuals during the bid process. Claudio Descalzi, head of exploration and production at the time and now the chief executive, is being investigated alongside Roberto Casula, the former head of Africa operations and now chief of development, operations and technology.

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