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Eni transformation in the past five years

Debt reduction, increasing production and new ways to diversify our company.

Efficiency and integration

We have built a new Eni based on efficiency, integration and deployment of new technologies.

The following infographic summarizes the main results obtained for each target and the strategies for achieving them.

 

Download the infographic in Pdf format

PDF 163.42 KB 27 May 2019 CEST 17:44
PDF 163.42 KB

Our Strategic Plan 2019-2022 goals

As part of the presentation of the 2019-2022 strategy, the targets set in the previous strategic plan have been revised as shown below, taking into account the progress that has been made on: discoveries, production CAGR, Upstream project breakevens, LNG contract volumes by 2025, refining breakeven LT, and the decarbonization strategy.

 

Actions taken to reach Plan’s goal

1. Transformation into a fully integrated O&G

Centralisation of support functions. All businesses directly reporting to CEO.

Sale of participations in Snam and Galp.

Stake dilution in Saipem from 43% to 30.5%, ensuring the deconsolidation of its debt.

 

2. Upstream enhancement

Successful dual exploration model built on our leadership in exploration.

Integrated development of new projects: ‘design-to-cost’ approach.

Enhanced control on execution: insourcing of competences and full integration of all phases of the supply chain.

Conventional asset portfolio and high level of operatorship.

 

3. Mid-Downstream restructuring

Renegotiation of long-term contracts and recovery of Take-or-Pay.

Dedicated company for the retail gas and power business, ‘Eni Gas e Luce’.

Stronger integration of G&P and Upstream to develop international LNG.

Refining capacity optimization and reconversion of plants into green refineries.

Chemicals capacity optimization and increased focus on high-margin specialties.

 

4. Financial Discipline

Exit from non-core businesses and flexibility from dual exploration model.

Structural cost and capex saving.

Upstream growth and mid-downstream turnaround.

Sustainable dividend policy.