Business Italian Oil Giant ENI Probed For Corrupt Acquisition of Nigerian Oil License Worth Billions



The chief executive of the Italian oil and natural gas company ENI, parent company of Nigeria's Agip Oil, is under investigation over international corruption allegations.

Claudio Descalzi is facing questions about the acquisition of Oil Prospecting Licence (OPL) 245 in Nigeria for over a billion dollars, BUSINESS DAY reports.

A Milan prosecutor is probing the role of Claudio Descalzi, Eni’s chief executive officer (CEO), his predecessor and another Eni executives over their role in the Italian group’s acquisition, in partnership with Shell, of the rights to OPL 245.

The prosecutors recently opened a probe into alleged corruption relating to the acquisition of the offshore oil block in 2011 by Eni and Shell. Last year, British police began investigating a money-laundering allegation in connection with the same field.

The company said in a statement yesterday that "it is cooperating with the Milan prosecutor's office" and that it "continues to deny any illegal conduct".

“The entire payment for the issuance of the license to Eni and Shell was made uniquely to the Nigerian government," it added.

#ENI #Italy #Nigeria #Agip #oil

italy oil giant eni.jpg