The strategy called the “Dual Exploration Model” is based on a simple principle: while increasing hydrocarbon reserves through exploration, discovery and acquisition of fields, one benefits from the early monetisation obtained through the sale of minority interests to other players, always maintaining control and guidance of the operations that remain with Eni. This approach has been particularly effective in frontier exploration basins where, thanks to our technologies, we often are the first to identify large gas fields, leading the way for other companies.
As well as the cash it generates, the Dual Exploration Model is important for the market recognition of the value of Eni’s exploration assets and corporate profile, which is confirmed each time an acquisition is made by another global player.
The dual model exploration, as we have seen, makes it possible to reduce investments and long-term financial assets, yet without losing control of operations or concessions. In addition, it increases returns each time.
With its Strategic Plan 2023-2026, Eni focuses on exploration in areas with existing activities and infrastructures, including North Africa, Eastern Africa and the United Arab Emirates, for around 90% of its expenditure, supporting its track-record in creating the highest maximum value in the industry.
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