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A Brazilian court has informed Italian offshore engineering and construction giant Saipem that it can resume normal operations in Brazil.
Saipem was suspended from signing new contracts with the Brazilian public administration for two years following a probe into alleged irregularities surrounding a deal signed with Petrobras in 2011.
Allegedly, a representative of the Italian firm bribed an ex-Petrobras director to get a $140m pipeline installation contract from the BM-S-11 consortium.
In October, the Federal District Court of Brasilia annulled the order of the Controladoria-Geral da União (CGU) prohibiting the company and its Brazilian subsidiary from contracting with the Brazilian public administration.
However, there was the lingering issue of the appeal phase which is mandatory under Brazilian law. During that time the effects of the annulment were suspended.
Last Friday, the Federal District Court of Brasilia informed the company that the annulment of the suspension was effective immediately regardless of any possible appeals.
“As a result, Saipem and Saipem do Brasil, whilst pending the appeal proceedings, are once again fully operational with state-owned companies in the Brazilian market, with immediate effect,” Saipem said in a statement.
The post Saipem back in business in Brazil appeared first on Energy News Beat.
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