Home News Eni, Shell have case to answer in $1.3bn Malabu oil deal –...

Eni, Shell have case to answer in $1.3bn Malabu oil deal – Italian court


By Udeme Akpan with agency report

AN Italian judge found, yesterday, that Eni and Royal Dutch Shell were aware that their 2011 purchase of the Malabu oil block would result in corrupt payments to Nigerian politicians and officials.

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According to Reuters, Italy’s Eni and Shell bought the OPL 245 offshore field for about $1.3 billion in a deal that spawned one of the industry’s largest corruption scandals. It is alleged that about $1.1 billion of the total was siphoned to agents and middlemen.

It stated that the Milan judge made the comment in her written reasons for the September conviction of Nigerian Emeka Obi and Italian Gianluca Di Nardo, both middlemen in the OPL 245 deal, for corruption. The pair was jailed for four years.

“The management of oil companies Eni and Shell,  were fully aware of the fact that part of the $1.092 billion paid would have been used to compensate Nigerian public officials who had a role in this matter and who were circling their prey like hungry sharks,” judge Giusy aBarbara said in her reasoning.

“It was not mere connivance, but a conscious adhesion to a predatory project damaging the Nigerian state,” she added.

She also said money was given to some Eni managers.

Obi and Di Nardo have been tried separately from Eni and Shell, which also face corruption allegations over the same deal in a hearing that is expected to drag on for months.

 

 




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