The additional activities will take place in the Western Desert, in the Mediterranean and in the Sinai, and will cover both development, through the drilling of additional wells and the acceleration of production from new discoveries, and exploration, by drilling 12 exploratory wells.
The parties will evaluate the eventual acquisition by either party of participating interests in upstream projects for the development of both conventional and unconventional hydrocarbons. Moreover, the parties will evaluate the opportunity to participate jointly in projects in other African countries.
The Block Arguni I covers an area of 5,386 square km in the Bintuni Basin, a mainly gas prone, prolific hydrocarbon province, with several giant gas discoveries already in production.
Eni's Board of Director confirms the Manager charged with preparing the company's financial reports, the Executive Vice President of the Internal Auditing Department and the Officer in charge of internal controlAppointment of the members of the Watch Structure
The agreement involves Eni earning 50% in the Heron gas discovery by funding the drilling of two wells in the Heron Area. Eni may withdraw from the agreement after the first well has been drilled.
The EST technology, funded by Eni with over 1.1 billion Euro, represents the first Italian scientific and technological discover in the oil refining sector and the biggest industrial project currently underway in the country.
Eni's Board of Directors appoints Paolo Scaroni as Chief Executive Officer and the members of the Board committees
Eni’s Board has confirmed the continuation of the powers of Giuseppe Recchi, the Chairman, to identify and promote integrated projects and international agreements of strategic importance, as provided for under the By-Laws.
Dividend per share of euro 1Parent company's net profit for the year of euro 6.18 billionAppointment of the Directors and the Statutory Auditors
Based on previous assessments, Eni confirms the significant shale gas reserves in Algeria which Eni and Sonatrach wish to explore and develop.
2011 Q1 ResultsAdjusted operating profit:up 18.4% to €5.13 billionAdjusted net profit: up 21.6% to €2.22 billion Paolo Scaroni, Chief Executive Officer, commented: "In the first quarter of 2011, marked by the Libyan events, Eni delivered a solid set of financial results on the back of a favourable oil price environment. In spite of ongoing uncertainties regarding resumption of our activities in Libya, the profitability and growth outlook for our Company has remained positive underpinned by a sound financial position, the quality of our asset portfolio, and a strong projects pipeline".
The bonds will enable Eni to maintain a broad investor base and a well-balanced financial structure in terms of short term and medium/long-term debt.
The parties discussed the issues of bilateral cooperation in the energy sector within their Strategic Partnership Agreement.