April 8, 2019

Italian oil contractor reports it will cooperate with DOJ’s Unaoil-related bribery investigation

Saipem, an Italian oil and gas contractor, disclosed in its annual report that it received a document request from the US Department of Justice related to its dealings with Unaoil, a Monaco-based oil consultancy, in Iraq.  Saipem said that it is cooperating with prosecutors, though it has not conceded that the company is subject to US jurisdiction.  According to Saipem, the DOJ’s request is part of a wider probe into the activities and relations of Unaoil.  The company noted, as it had in previous public filings, that it has been under scrutiny by Italian prosecutors in Milan since August 2018 for its activities related to Unaoil.

Annual Report