Petroleum Africa
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Wednesday, December 28, 2016
ENI saw the closure of the investigation into its acquisition of a stake in Nigeria’s OPL 245. According to an ENI statement, the closure reaffirms the propriety of the transaction. The Italian firm and Shell concluded the transaction with the government without the involvement of any intermediaries.
The company launched its own investigation after hearing of the official investigation, appointing an independent, internationally renowned US law firm to conduct extensive verification of the propriety and regularity of the aforementioned procedure.The independent investigation demonstrated the regularity of the acquisition procedure of OPL 245, carried out in compliance with the applicable laws.
In particular, there was no evidence of payments from ENI to officials of the Nigerian government. The amount paid by ENI and Shell for the OPL 245 block was deposited directly into an account owned by the Nigerian government.
The company said that as soon as it has access to the documents filed by the prosecutor, it will commission further in-depth analysis by independent lawyers to confirm the regularity of the transaction.
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