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Engineering & Construction

Offshore platform

Eni operates in engineering, construction and drilling both offshore and onshore for the oil&gas industry through Saipem, a subsidiary listed on the Italian Stock Exchange (Eni's interest is 43%).

  • In 2014, adjusted net profit of the Engineering & Construction segment amounted to €309 million (up by €562 million from the adjusted net loss of €253 million reported in 2013). This result reflected extraordinary losses incurred in 2013 driven by changed estimates of profitability of certain long-term contracts;
  • In 2014, the injury frequency rate registered a 7.7% increase due to a higher index for contractors (up 12.7%), partially offset by a lower injury frequency rate for employees (down 4.9%);
  • Capital expenditure amounted to €694 million (€902 million in 2013), mainly regarded the upgrading of the drilling and construction fleet.
  • StrategiesStrategies
  • Orders acquiredOrders acquired
  • Order BacklogOrder Backlog

For the Engineering & Construction segment, the 2014 was characterized by the return to profitability, the reduction of net debt and significant results in terms of new orders.

The company has a large and diversified order backlog which will express its competitive advantage as that in: ultra deepwater projects, laying of trunk line in extreme conditions, large and complex onshore projects.

Order acquired at period end

Orders acquired amounted to €17,971 million (€10,062 million in 2013), 97% of which relating to the works outside Italy, while orders from Eni companies amounted to 8% of the total.

Order backlog at period end

Order backlog amounted to €22,147 million at December 31, 2014 (€17,065 million at December 31, 2013), of which €9,035 million to be fulfilled in 2015.

Last updated on 12/05/15