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.
Within the Strategic Plan 2022-2025, the exploration activities will continue to be a distinctive factor, and the main source of Eni’s diversification towards a portfolio marked by a definite presence of gas, a fast time to market and a low breakeven. Exploration will focus on near-field opportunities linked to existing infrastructures in proven fields with high gas potential.