Saipem Satisfied with Acquittal in Algeria

Saipem “welcomes with satisfaction the decision of the Algerian Supreme Court” which – following the appeals presented by some of the other parties – “gave its opinion in the criminal proceedings initiated in December 2022 against Saipem SpA in relation to the latter’s participation in a 2008 tender for the competitive FEED studies relating to the Rhourde Nouss QH project”. “Based on the provisions of the decision, as read at the hearing and communicated to Saipem SpA by its local lawyers, the Supreme Court, having rejected all the appeals, definitively confirmed the acquittal of the Company already pronounced by the Court of Appeal of Algiers on 16 April 2023” writes the company in a note.