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BUSINESS MEETINGS AND AGREEMENTS

Versalis: agreement signed with Saras for the transfer of the Sarroch plants

San Donato Milanese, 30 December 2014 – Versalis (Eni) has announced the signing of a firm agreement with Sarlux (Saras) that officially formalizes the transfer of the plants of the Sarroch site (Cagliari, Sardinia). The aim of the agreement is to reinforce the integration between the Versalis petrochemical complex and the refinery owned by Sarlux, thus generating industrial synergies that will make the site more competitive in the medium to long term.

The challenging market scenario for petrochemical products, the distance from the outlet markets and the high structural costs deriving from the separation of the two companies’ industrial scopes , makes it necessary to consolidate operations in order to improve the sustainability of the whole site and guarantee the continuation of operations.

The agreement includes the acquisition by Sarlux of the Versalis operations which are already connected with the production cycle of the refinery and related services, namely, the reforming unit, the propylene splitter unit and the BTX plant and related services, including the logistics system. Versalis will continue to operate on the site with HSE activities, as already planned, as well as with the safety operations following the shutdown of the productions which are not included in the agreement.

The operation, in addition to optimizing the industrial structure of the Sarroch site, encompasses options to safeguard employment, with the aim of consolidating expertise and best practices from both companies.

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