Saipem: notification of administrative proceedings in Brazil to the subsidiaries Saipem S.A. and Saipem do Brasil in relation to a contract awarded in 2011
San Donato Milanese (MI), 30 May, 2019 – Saipem S.p.A. informs that today its French subsidiary Saipem S.A. and its Brazilian subsidiary Saipem do Brasil were notified by the competent Brazilian administrative authority (Controladoria-Geral da União through the Corregedoria-Geral da União) about the opening of an administrative proceedings with respect to alleged irregularities in relation to the award by the Brazilian oil company Petrobras, as leader of the “Consortium BMS 11”, in December 2011, of the contract (whose value was equal to about Brazilian Reais 249 million, currently equivalent to about Euro 56 million) for the installation of the underwater gas pipeline connecting the Lula and Cernambi fields in Santos Basin
Saipem S.A. and Saipem do Brasil will cooperate in the administrative proceedings by providing all the clarifications requested by the competent administrative authority and have confidence in the correctness of the award of the above mentioned contract and in the absence of circumstances to affirm the administrative liability of the companies.
Saipem is a leading company in engineering, drilling and construction of major projects in the energy and infrastructure sectors. It is “One-Company” organized in five business divisions (Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling and XSight, dedicated to conceptual design). Saipem is a global solution provider with distinctive skills and competences and high-tech assets, which it uses to identify solutions aimed at satisfying customer requirements. Listed on the Milan Stock Exchange, it is present in over 60 countries worldwide and has 32 thousand employees of 120 different nationalities.
Website: www.saipem.com
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E-mail: segreteria.societaria@saipem.com
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