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Finding the right balance between investments and returns through a unique organizational and financial strategy.
Eni and PETRONAS announced a binding agreement to establish an independent company (NewCo) under equal ownership, by combining their respective upstream assets in Indonesia and Malaysia. They will combine complementary portfolios, technical strengths, and regional expertise to deliver long-term value creation, operational excellence, and leadership in the energy transition.
Our satellite model is based on creating separate entities that can independently access capital markets to finance their own growth and be suitable for specialised investors. In this way, we can accelerate the development of new high-potential businesses linked to the energy transition, while maintaining the solidity that characterises us in traditional activities, which are also part of a common decarbonization process. At the same time, each satellite company remains an integral part of Eni, from which it can continue to benefit in terms of technology, know-how and services.
By being open to new investments, the satellite model allows us to reduce the capital absorption required to support new businesses, while safeguarding shareholder remuneration, which continues to be fed by the Free Cash Flow generated by traditional activities.
The interactive infographic shows the main companies integrated into Eni’s satellite model. By clicking on each company’s name, you can access dedicated websites and explore the activities and projects of each satellite.
We are implementing the satellite model through strategies tailored to different contexts. In the context of the energy transition, the model is already operational with Enilive and Plenitude, which have seen new funds and partners enter their shareholder base. The same approach will be extended to our activities in biochemistry, with Novamont, and in CCUS, through the launch of a new satellite company dedicated to this business.
The satellite model is also being applied in geographical areas with a strong upstream focus and low emissions, with the aim of creating operational and financial synergies, maximising growth potential, and unlocking additional capital for the rest of the portfolio. In this context, Vår Energi in Norway is the first independent and listed satellite. Azule in Angola is the result of a joint venture, a solution that will be replicated for the joint management of assets in Malaysia and Indonesia. In the United Kingdom, Ithaca stems from a business combination integrating complementary assets, consolidating Eni’s strategic presence in the area.
Chief Transition & Financial Officer, Chief Operating Officer and General Manager of Eni
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