ENI and its CEO Deny Any Involvement in the Algerian Events Under Judicial Investigation

Source Press Release
Company ENI S.p.A.Saipem S.p.A. 
Tags Strategy - Corporate
Date December 04, 2013

With regards to press reports which state that, during interrogation by the Milan prosecutor a former Saipem manager indicated that Eni and its CEO were involved in illegal activities in Algeria, Eni and the its CEO deny any involvement in the events under investigation.

Eni started independent internal audits as soon as it became aware of the investigation. The results of the activities already completed have been made available to the investigating authorities. In addition, while respecting Saipem’s autonomy as a listed company with its own governance and control bodies, independent from those of the parent company, Eni’s CEO has recommended that Saipem put in place a series of detailed internal audits and initiate actions of organizational and managerial discontinuity. This led, among other things, to the dismissal of the Saipem manager who has allegedly made the comments reported by the press. Saipem has already started legal action against this manager for compensation for damages suffered.

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