MILAN, April 23 (Reuters) - Italian oil service group Saipem

SPMI.MI may not get payments from Algeria for around 500 million euros in a worst case scenario, the group's CEO said on Tuesday.

"There has been some difficulty to get recent payments (in Algeria)," Umberto Vergine told analysts on a conference call.

He said the worst case scenario would be the possible loss of 500 million euros in payments.

Saipem is embroiled in a probe into allegations it paid bribes to secure a series of contracts in Algeria worth $11 billion.

(Reporting By Stephen Jewkes, editing by Jennifer Clark)

((stephen.jewkes@thomsonreuters.com)(+39.0266129695)(Reuters Messaging: stephen.jewkes.thomsonreuters.com@reuters.net))

Keywords: SAIPEM ALGERIA/