ENI CEO Might Step Down if Found Guilty of Corruption

Stephen Jewkes
Monday, January 27, 2020

Italian oil group ENI's Chief Executive Claudio Descalzi could step down if he is found guilty by an Italian court of corruption in Nigeria, he told the Wall Street Journal.

Descalzi is one of the defendants in a case over the alleged payment of bribes to facilitate a $1.3 billion oil deal for Nigeria's OPL 245 offshore oilfield in 2011.

In a long interview published on the Wall Street Journal website on Saturday, Descalzi denied taking part in any illegal activity and said his work at ENI, where he rose through the ranks over the course of 39 years, was not done.

However, Descalzi told the WSJ that he would likely step down if found guilty in the Nigeria case rather than wait for the outcome of lengthy appeals.

Representatives at ENI confirmed the details of the interview.

A verdict in the case is expected later this year, and in the Italian legal system, the ruling could be appealed twice.

Controlled by the Italian state, Eni has one of the best exploration track records in the industry. Descalzi's mandate comes up for renewal in the spring. 

(Reporting by Stephen Jewkes, writing by Valentina Za; Editing by Hugh Lawson)

Categories: Industry News Europe Africa People & Company News

Related Stories

ConocoPhillips Submits $2B Greater Ekofisk Gas Redevelopment Plans

Cydome Rolls Out Remote Cybersecurity Tool for Offshore Wind Farms

NOV’s GustoMSC to Design Korea’s Wind Turbine Installation Vessel

Current News

AF Offshore Secures North Sea Decom Job

Island Offshore’s Hybrid OECV Hits Water at Vard Yard in Romania (Video)

Jumbo Offshore Wraps Up Errea Wittu FPSO Mooring Pre-Lay in Guyana

Petronas Takes Operatorship of Oman’s Offshore Block 18

Subscribe for OE Digital E‑News