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Eni’s CEO updated the President Sein on projects and activities that will be developed in the Country. The recent entry of Eni in Myanmar further confirms the Company's strategy to strengthen its presence in Southeast Asia
Area 4’s total resources are estimated to be approximately 85 trillion cubic feet of gas in place and ready to enter in the development phase in 2015.
Following the purchases announced today, considering the treasury shares already held, on October 10, 2014 Eni holds n. 28,090,197 shares equal to 0.77% of the share capital.
Block 116 covers an area of about 5,000 sqkm in the Song Hong basin, in waters with a depth ranging from 10 to 120 meters. The PSC block, wholly owned by Eni, provides for an exploration period of seven years divided into 3 phases.
During the meetings, they discussed the results and developments of Eni’s activities in the country, particularly on the Kashagan and Karachaganak fields, on which Eni’s CEO provided an overview of the ongoing projects and activities leading to the next steps of development.
As of today Eni owns no. 27.600.197 treasury shares, equal to 0,76 % of its share capital.Eni subsidiaries do not own any shares in the Company.
– 2013 world oil & gas reserves are increasing respectively of +0.4% and +1.7% mainly thanks to the US’ tight oil new plays and to the gas discoveries in East Africa
– World’s gas growth (+1.2%) is double compared to that of oil (+0.5% vs 2012)
– World’s oil & gas consumption is increasing (+1.4% the former and +1% the latter). The growth of US’s demand is prominent
– The weakness of European’s consumption as well as the competition with other Countries result in the resistance of refining capacity excess in Europe
Eni continues to renew, expand and diversify its exploration portfolio. In the last months, Eni has entered into new countries, such as South Africa and Myanmar, and acquired new areas like, such as in China and Vietnam.
Early estimates suggest that the Oglan discovery potentially contains about 300 million barrels of oil in place.
- Approval of 2014 interim dividend: €0.56 per share
- Member of the Watch Structure appointed
- Implementation of the 2014 Long-Term Incentive Plan resolved
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