The strong synergies between the Exploration and Development businesses guarantee organic production growth.
We can rely on our strengths which allow us to evolve yet remain true to our nature. What makes us stand out in the contemporary energy arena?
It is founded on four pillars: transformation into an integrated oil and gas company, growth, restructuring of the mid-downstream and cost efficiency.
Our value grows above all thanks to exploration: between now and 2020 we will drill around 120 wells in more than 20 countries and discover 2-3 billion boe of new resources.
Hydrocarbon production is expected to grow by over 3 per cent each year thanks to new projects capable of generating about 800,000 boe per day in 2019.
Or, more precisely, the renegotiation of long-term contracts and a reduction in logistics costs in gas and power and more efficient operations in refining and marketing.
We expect divestments for €7 billion; non-utilised CAPEX will provide great flexibility to our portfolio. We are ready to face the challenge.
For 2017, we are committed to paying our shareholders a dividend of €0.80 per share and have chosen a sustainable remuneration policy.
We constantly renew and diversify our exploration portfolio. The great results of recent years in exploration are due to sustainable management of our activities. We decided to sell part of the interest in some recent gas discoveries while maintaining the role of operator in country. This strategy is a response to the “Dual Exploration Model” and is in line with the 2017-20 asset disposal plan.
How we relate to the market and what we expect for 2017.
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