Press Reports Cite Italian Investigation into Oil and Gas Company for Potential Nigeria Corruption

Italy Oil and Gas Services

According to a September 11 news report, two top executives of an Italian oil and gas company are being investigated by Italian prosecutors for alleged corruption related to the company’s 2011 acquisition of 50% of a Nigerian deepwater offshore oil field block.  The executives include both the company’s CEO, and its Chief Development, Operations, and Technology Officer.  The company denied that any illegal conduct had occurred and noted its cooperation with the Milan Prosecutor’s Office related to the matter. The new investigation appears unrelated to the company’s previous $365 million FCPA and Nigeria settlement with the DOJ and SEC, regarding the TSKJ-Nigeria joint venture.