Corruption: ENI CEO Says He Will Step Down If Found Guilty In Nigeria Case

Chief Executive, prestigious Italian oil group ENI, Claudio Descalzi, told the Wall Street Journal that he could step down if he is found guilty by an Italian court of corruption in Nigeria.

In 2011, Descalzi was allegedly accused of taking part in the payment of bribes to facilitate estimated to $1.3 billion oil deal for Nigeria’s OPL 245 offshore oilfield in 2011.

On Saturday, a report from Wall Street journal website clearly shows that ENI's CEO had denied taking part in any illegal activity and said he worked at ENI, where he rose through the ranks over the course of 39 years.

Descalzi told the WSJ that he would likely step down if found guilty in the Nigeria case rather than wait for the outcome of lengthy appeals.

Right now, Descalzi awaits verdict in the case as the final judgement is expected later this year, and in the Italian legal system, the ruling could be appealed twice.

As an Italian state, ENI is entitled to the best exploration track records in the industry.