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In the operation Eni complied with its internal policies and international best practices and carried out all accounting and industrial checks. IT IS A FALSE CLAIM to state that Eni infringed the audit procedures.
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The truth
Eni ensured full compliance with the procedures and due diligence throughout the block purchasing process.
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Full compliance with the internal procedures and due diligence
Two factors underline the appropriate behaviour of Eni:
- The fairness of the financial offer, which was made following a detailed analysis of the quality of Block 245, taking into account geological, technical, and financial aspects. This analysis was carried out by a team of about 80 people.
- There was full compliance with due diligence procedures, internal protocols, and the relevant best practices to ensure the operation was conducted with the utmost probity. During the negotiations, Eni also hired leading international consultants (including TRAG, a UK-based business intelligence and investigation company) and independent Nigerian legal firms (Paul Erokoro and Aluko & Oyebode).
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Read the rest of the facts about Block 245
OPL 245 delivers great benefits to the Nigerian population
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The cost of the operation was fair and reasonable
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Eni made the payment directly to the government
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Eni was unaware of how Malabu used the funds
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Emeka Obi did not act on behalf of Eni
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Eni’s senior management received no bribes
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