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2016-2019 Strategic Plan


Profitable growth

  • Production CAGR > 3% per year, cumulative +13% by 2019
  • Upstream CAPEX -18% vs previous plan
  • Group CAPEX -21% at €37 bln, OPEX steadily below $7/bbl throughout the plan
  • Exploration: 1.6 bln boe of new resources at a unit exploration cost of $2.3 during the plan period
  • New projects average breakeven: drastically reduced from $45/boe to $27/boe average

Restructuring

  • G&P in structural breakeven from 2017
  • Refining: lowering breakeven to around $3/bbl in 2018 with existing capacity

Transformation 

  • New disposals target: €7 bln by 2019

Financials

  • Cost reduction
    • €3.5 bln of cost reductions from renegotiations, reducing the gap between costs and oil prices
    • Cumulative G&A savings: €2.5 bln by 2019, vs. €2 bln in previous plan
  • Cash Flow From Operations
    • to cover CAPEX at $50/bbl Brent in 2016 vs $63/bbl in the previous plan;
    • to cover CAPEX and dividend at $60/bbl in 2017 vs <$75/bbl in the previous plan
    • to cover CAPEX and dividend at <$60/bbl in 2018-2019
  • Shareholder remuneration
    • Confirmed 2016 dividend proposal of €0.8 per share full cash

Exploration & Production

Exploration & Production

The hydrocarbon production growth target is equal to 3.5% per year in the 2015-2018 period, will be achieved mainly through the start-up of 16 major projects and the ramp-up of those already started in 2014.

Gas & Power

Gas & Power

In 2014 gas sales totalled 89.17 billion cubic metres. Electricity sales amounted to 33.58 TWh. Check the data on sales and supplies.

Refining & Marketing

Refining & Marketing

In 2014, retail sales in Italy amounted to 6.14 mmtonnes. In the Rest of Europe, 3.07 mmtonnes. Sales of petroleum products, service stations, Eni’s market share in Europe.

Trading

Trading

Eni Trading is the new internal business unit responsible for the integrated management of commodity and asset-backed securities trading risks.
It operates through Eni Trading and Shipping (ETS), with offices in London, Rome, Milan, Houston, Brussels, Amsterdam and Singapore.

Engineering & Construction

Engineering & Construction

Eni operates in engineering, oilfield services and construction both offshore and onshore through Saipem. Saipem will continue focusing on the execution of technologically-advanced mega-projects mainly located in frontier areas and complex environments, carefully selecting business opportunities.

Chemicals

Chemicals

A new industrial and commercial strategy aims to create a market-oriented, efficient, sustainable and world leading company.
Versalis represents the distinctive values and development goals of the repositioning of the company.