Saipem Says Milan Prosecutors Open Corruption Probe On Brazil Contract

Reuters

MILAN, Aug 12 (Reuters) - Saipem said on Wednesday it had received notice that Milan prosecutors had opened an investigation into alleged international corruption regarding a contract the oil services group was awarded in Brazil in 2011.

Saipem, which is 43 percent owned by oil major Eni, said in a statement the proceedings regarded a contract Brazil's Petrobras had awarded to Saipem and Saipem Do Brasil.

The oil contractor said it had not received notification from the judicial authorities in Brazil.

In June judicial authorities in Brazil launched probes of several Brazilian citizens, including a former consultant of Saipem do Brasil, over the contract.

"Saipem is cooperating fully with this impending investigation and in June 2015 launched an internal audit... This internal audit is still ongoing," it said.

(Reporting by Stephen Jewkes, editing by Philip Pullella)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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