Financial Activities

In relation to Eni’s reorganisation plan for financial activities, as fromJanuary 1st 2007, Enifin S.p.A., treasury management company, is merged into Eni S.p.A..

The financial activities of Eni and its companies are managed by a centralised model on the basis of which market operations and relations with the banking system is guaranteed by the central finance department. This is to ensure the optimisation of intra-group netting and market operations.

Eni companies make exclusive use of the central finance department to meet their financial requirements, deposit liquidity and conduct exchange and derivatives operations.

The central finance department is structured as follows: a Corporate Finance Unit, the Eni Coordination Centre, Banque Eni and eni adfin (financial services).

The Corporate Finance Unit oversees:

• strategy, coordination, planning and control;
• the centralised management and control of financial risks;
• short and medium/long term finance for Italian companies, exchange rate and derivative operations to cover risks deriving from interest and exchange rates, commodity risk and contracts for emissions trading;
• Capital Markets activities for debts and equity, as well as structural financing activities for Eni and its companies.

The Eni Coordination Centre, based in Brusselsand, is an operational finance centre focused on meeting the short and medium/long-term financial requirements and the management of liquidity of foreign-based companies.

Banque Eni (which is in the process of absorbing the functions provided by Eni Bank) and eni adfin (financial services department) are, for foreign and Italian operations respectively, the companies that provide financial services relating to money management (i.e. cash transactions, payments, intra-group financial transactions).