Saipem To Pay Nigeria $32M To End Gas Project Probe

Law360, New York (December 20, 2010, 3:16 PM EST) -- Italian oil company Saipem on Monday announced a settlement and nonprosecution agreement with the Nigerian government in an investigation into its Snamprogetti Netherlands BV unit for allegedly conspiring on contracts to build liquefied natural gas facilities in the country.

Snamprogretti agreed to pay $30 million in criminal penalties and $2.5 million in reimbursement for legal costs and expenses, and in exchange the Nigerian government dropped all charges, Saipem said.

The Italian company allegedly conspired with other members of the TSKJ consortium, which included KBR Inc., Technip...
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