Stefano Cao: “We Settled Our Dispute With Sonatrach, Corruption File Is Over”

Italy’s Saipem CEO, Stefano Cao, said his presence in Algeria as part of the Sonatrach International Forum “Algeria’s Energy Future”, is a signal of the company’s final return to Algeria.

“Suspicion of corruption that rocked the company in recent years in Algeria has become a past”.

Saipem’s official, Stefano Cao, told Echorouk on Tuesday, on the sidelines of the Forum “Algeria’s Future Energy” that was organized by Sonatrach at the International Conference Center in Algiers, that Saipem has finally closed its dispute with Sonatrach through the agreement that was signed with the General Manager,Abdelmoumen Ould Kaddour.

“We are very happy to end the dispute with Sonatrach and to sign the understanding … We hope to start working soon in Algeria”, Saipem’s CEO said.

Asked if Saipem participated in tenders for projects in Algeria, Stefano Cao asserted that the company had not yet reached the stage of participating in tenders, but is now in the process of collecting the necessary information, but would participate in all the opportunities that will be available to it.

Stefano Cao concluded his statement by asserting that the storm which Saipem experienced in Algeria, in reference to the issue of corruption that shook the company in recent years, in the context of what is known as the case of Sonatrach 1 and 2, has become a past.

Saipem has been unable to participate in tenders in Algeria for 10 years, especially since the end of 2008, when it won seven projects at the time, worth 8 billion euros, which was the cause of the bombing of the case, which was later known scandal bribery 200 million euros.

Following the scandal, Saipem was unable to participate in tenders in Algeria for 10 years, specifically since the end of 2008, when it won 7 projects at the time, worth 8 billion euros, which was the cause of the scandal, which was later known as the 200 million euros bribery case.