Strategies
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%). Saipem boasts a strong position in the relevant market leveraging on technological and operational skills mainly in frontier areas, harsh environments and complex projects, as well as on engineering and project management capabilities and ownership or availability of necessary technologies as a result of a challenging internal (investments on offshore fleet) and external (acquisition of Bouygues Offshore and Snamprogetti) growth process.
In spite of the uncertainty on the time of the recovery of global economy, Saipem plans to continue consolidating its position in the main business segments, implementing its strategic guidelines:
Orders acquired
Orders backlog
Capital expenditures
Orders acquired amounted to €9,917 million, down €3,943 million from 2008 (-28.4%), in particular in onshore construction and onshore drilling activities.
Order backlog was €18,730 million at December 31, 2009 (€19,105 million at December 31, 2008), related in particular to projects in North Africa (30%), West Africa (15%) and the Rest of Europe (13%).
In 2009 capital expenditures in the Engineering & Construction segment (€1,630 million) mainly regarded:
Glossary
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Last updated on 12/08/10