Results for the third quarter of 2009:

Financial Highlights

• Adjusted operating profit: down 49.7% to €3.12 billion for the third quarter and down 46.7% to €9.42 billion for the first nine months of 2009
• Adjusted net profit: down 60.5% to €1.15 billion for the third quarter and down 53.6% to €3.81 billion for the first nine months of 2009
• Net profit: down 57.8% to €1.24 billion for the third quarter and down 59% to €3.98 billion for the first nine months of 2009
• Cash flow: €2.03 billion for the third quarter (€9.66 billion for the first nine months of 2009)

Operational Highlights

• Oil and natural gas production: down 4.9% to 1.68 million barrels per day for the third quarter (down 2.6% for the first nine months of 2009). When excluding OPEC cuts, the decrease was 3.5% and 1.1%, respectively
• Natural gas sales: up 11.7% to 22.52 billion cubic meters for the third quarter (up 2.9% for the first nine months of 2009)
• Made a large gas discovery offshore Venezuela
• Awarded licence for the development of the giant Zubair field, one of the biggest oil properties in Iraq

2008 Annual Results

• Net profit for the year: €8.83 billion
• Dividend per share of €1.30
• Net sales from operations: €108.1 billion
• Cash flow: €21.8 billion
• Market capitalization: €60.6 billion
• Oil and natural gas production: 1,797 kboe/d
• Natural gas sales: 104.23 bcm

List of Eni's subsidiaries for year 2008

Eni’s businesses are:

The search for and production of hydrocarbons
In 2008, in a high oil price environment, Eni achieved record oil and gas production at 1,797 kboe/d, up 3.5% from 2007. The performance was due to the additional production from acquired assets in the Gulf of Mexico, Congo and Turkmenistan in 2007 and 2008 and the organic growth achieved in Angola, Congo, Egypt, Pakistan and Venezuela.
Management plans to achieve a strong production growth leveraging on its portfolio of high quality assets and new project start-ups in the core areas of Africa, Central Asia and Russia.
Eni’s estimated net proved reserves at December 31, 2008 amounted to 6.6 bboe determined under a reference Brent price of 36.5$/barrel.

The supply, transport, distribution and marketing of natural gas; production and sale of electricity
In 2008 Eni’s consolidated subsidiaries, including Distrigas’ share amounting to 5.15 bcm, supplied 89.65 bcm of natural gas with a 5.85 bcm increase from 2007, up 7%.
Worldwide natural gas sales: 104.23 bcm, up 5.3% from 2007 driven by higher international sales (up 19.9%) mainly reflecting the contribution of the Distrigas acquisition and the organic growth recorded in European markets. Eni expects to achieve gas sales of 124 bcm by 2012 at a 7% average growth rate of international sales leveraging on synergies of the Distrigas acquisition that will help drive sales growth and market share gains in Eni’s target market in spite of an unfavourable outlook for European gas demand.
In 2008, volumes of natural gas input in the national grid (85.64 bcm) increased by 2.36 bcm from 2007, up 2.8%.
In 2008 sales of electricity (29.93 TWh) were directed to the free market (76%), the electricity exchange (13%), industrial sites (9%) and ESO (Electricity Services Operator) and VPP (2%).

The refining and marketing of petroleum products
Refining throughputs on own account in Italy and outside Italy (35.84 mmtonnes) declined by about 1.31 mmtonnes from 2007, down 3.5%.
Retail market share in Italy was 30.6%, increased by 1.4 percentage points from 2007 mainly due to marketing activities (“Iperself‘ sales and fidelity programmes). Retail sales of refined products in the rest of Europe (3.86 mmtonnes) were down 4.2% particularly in the Iberian Peninsula, due to the disposal of downstream activities to Galp, and in Germany.

Oilfield Services, Construction and Engineering
Orders backlog was €19,105 million at December 31, 2008 (€15,390 million at December 31, 2007), related in particular to projects in North Africa (26%), West Africa (21%) and America (13%).

Petrochemical
Sales of petrochemical products were 4,684 ktonnes, down 829 ktonnes from last year, or 15%, due to a context of economic downturn that negatively influenced demand for petrochemical products.

• Fact Sheet (430 Kb)