Italian oil and gas services company Saipem is beefing up compliance by creating a new senior management position, the board of directors said last week.
Alberto Chiarini has been appointed Chief Financial and Compliance Officer. He joined Saipem from another Eni subsidiary as special assistant for compliance to the CEO.
Saipem has been under investigation by Italian authorities for a year for alleged bribe payments in Algeria before 2009.
Saipem’s former CEO Pietro Franco Tali resigned last year ‘to assist Saipem in responding to the investigation.’
Italian oil giant Eni owns 43 percent of Saipem.
Eni is also the parent company of Snamprogetti Netherlands B.V.
In 2010, Eni and Snamprogetti paid $365 million to resolve U.S. charges under Foreign Corrupt Practices Act for bribes paid in Nigeria with partners KBR, Technip S.A., and JGC of Japan.
Saipem said Friday it was combining the finance, legal and compliance duties “in order to strengthen the Company’s management structure and reiterate its current strategic focus on compliance and internal controls.”