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Friday, March 12, 2010

Eni Sees Possible US Authorities Deal On TSK Nigeria Case

By Liam Moloney

Dow Jones Newswires

ROME -(Dow Jones)- Eni SpA (E), Italy's biggest energy company by market value, expects to reach a deal with U.S. authorities over the TSKJ consortium graft probe, Chairman Roberto Poli said Friday.

"It is probable a closing with U.S. authorities" will take place, said Eni's chairman, who was speaking at a press conference in Milan following the company's presentation of its 2010-2013 growth plan.

U.S. authorities have been investigating whether the TSKJ consortium--made up of Technip SA (TEC.FR), JGC Corporation (1963.TO) of Japan, Saipem SpA's (SPM.MI) Snamprogetti unit and U.S. company KBR Inc.(KBR)--broke anti-bribery rules.

Eni sold Snamprogetti to its unit Saipem.

Thursday, Eni said a one-time provision taken in relation to legal proceedings against the TKSJ consortium in Nigeria cut EUR250 million from its net profit for 2009.

As a result, its net profit fell to EUR4.37 billion in 2009 compared with the EUR4.62 billion the company reported in a preliminary estimate in February.

Company Web site: www.eni.it

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