Ongoing Italian judicial investigations have already claimed the scalps of two top executives and bring into question the Italian firm’s ‘relationships’-based business model: the firm is also subject to ongoing Iraq/Kuwait and Libya-related corruption investigations.

Investigations by the Milan Public Prosecutor’s Office into the Algerian activities of Eni’s contracting subsidiary Saipem (in which Eni has a 43% stake) relate to instances of alleged corruption that took place until 2009 “in connection with certain contracts in Algeria,” Saipem says. (CONTINUED - 1058 WORDS)