Capital Expenditure

Capital expenditures of the Exploration & Production Division (€9,690 million) concerned development of oil and gas reserves (€8,578 million) directed mainly outside Italy, in particular in Egypt, Kazakhstan, Congo, the United States and Algeria. Development expenditures in Italy concerned the well drilling program and facility upgrading in Val d'Agri as well as sidetrack and work over activities in mature fields.
About 97% of exploration expenditures that amounted to €1,012 million were directed outside Italy in particular to Angola, Nigeria, the United States, Indonesia and Norway. In Italy, exploration activities were directed mainly to the offshore of Sicily.

As compared to 2009, capital expenditures increased by €204 million, up 2.2%, due to higher development activities in Egypt, Algeria, Norway, Venezuela, the United States and Iraq.