Italian prosecutors are requesting an eight-year prison sentence for the leader of eni and wanting to confiscate up to $1.1bn in fines from defendants including the oil major and royal dutch shell over a presumably corrupt nigerian oil block bargain.

Prosecutors made the demand in their closing arguments in milan of just one associated with the biggest corruption situations in oil industrys history.

They claim that almost all of $1.3bn shell and eni paid in 2011 for opl 245 overseas oil block went towards bribes for entrepreneurs, middlemen and nigerian officials, especially dan etete, nigerias previous oil minister, just who owned the block.

Prosecutors would like a 10-year phrase for mr etete, and eight-year phrases for claudio descalzi, eni leader, and paolo scaroni, his predecessor, and an 88-month sentence for shells former mind of exploration and production, malcolm brinded.

Inside the closing argument associated with the two-year trial, prosecutor fabio de pasquale cited e-mails and testimony he stated proved that shell, eni and some of these most senior professionals understood that a lot of associated with the money they covered opl 245 went towards bribes.

The oil organizations deny any wrongdoing in the case, which presumably involved payouts a number of nigerian oil ministers and attorneys-general utilizing the familiarity with senior professionals including mr descalzi. all of the officials and executives have rejected the allegations.

The opl 245 saga began in 1998, whenever mr etete, then petroleum minister, awarded their own company, malabu, the licence for industry. several years of appropriate wrangling between shell and malabu ensued, since the block ended up being granted and revoked to a single after which others by consecutive governments.

The 2011 price ended up being geared towards settling the disputed ownership of opl 245, but alternatively led, in part considering an issue by the london-based campaigning group international witness, on bribery probe in milan and investigations in the usa, british and the netherlands.

The nigerian government features argued it was the victim of a significant fraud, although the organizations continue steadily to function into the west african nation. shell and eni contend it was the best deal sanctioned by the authorities and they had no role or knowledge of just what would eventually the money afterward.

Shell stated the company failed to believe that there is certainly a foundation to convict shell or any one of its previous workers in milan. eni said it considered the requests for conviction associated with companys previous and existing professionals completely groundless. the firms are caused by provide their defence in september.

Regardless of the trial in milan, mr descalzi, who was simply at the time of the 2011 opl 245 deal the pinnacle of oil exploration for eni, ended up being reappointed to their post as chief executive in-may. prosecutors would like fines of 900,000 each contrary to the 13 individual defendants in the case additionally the businesses.

For sure, i do not feel bad, stated mr descalzi toward financial days in a job interview in 2010. im positively relaxed and clear in my own brain. i understand what eni did and what i performed...there is no indicate this issue.

In an independent instance when you look at the uk, nigeria is suing jpmorgan chase, alleging your lender facilitated the misappropriation of $845m in condition funds associated with opl 245 via transfers from malabu records. the bank denies any wrongdoing.