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Business and financial outlook

Management expectations for our business operations are provided below.

Outlook 2019

Eni’s business outlook and financial and operation targets of the 2019- 2022 industrial plan were illustrated during our strategy presentation on 15 March 2015 in Milan, Italy.

The outlook for the year 2019 is summarised below:         

 

Exploration & Production

Hydrocarbon production is expected to grow to 1.88 million boed/d. This will be driven by: 

  • Ramp-ups of fields in Angola, Egypt, and Libya 
  • Start-ups of fields in Algeria, Egypt, and Mexico 
  • In Exploration we target 600 mln boe discoveries with a UEC of 1.8$/boe 

Gas & Power

Continued outstanding performance with an adjusted EBIT target of €0.5 billion with increased synergy between our businesses 

Group

  • FY capex projected at around €8 billion 
  • Cash flow from operations (before changes in working capital) forecast to grow to €12.8 billion in a Brent scenario of 62 $/bbl 
  • Cash neutrality is expected at 55 $/boe 

 

Refining & Marketing e Chemistry

  • Gela Green Refinery to start-up in the 1st quarter of 2019 will add to our biofuel production capacity 
  • R&M EBIT is expected to be €0.7 billion 
  • The Chemicals business is expected to operate with continued structural resilience in unfavourable market conditions 
  • The closing of the ADNOC Refinery deal will increase our refining capacity by 35%