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BUSINESS MEETINGS AND AGREEMENTS

The Prime Minister of Kazakhstan meets Eni CEO Claudio Descalzi

Astana, 22 December, 2014 – The Prime Minister of Kazakhstan, Karim Massimov, and the Minister of Energy, Vladimir Shkolnik, met Eni’s CEO Claudio Descalzi today in Astana.

In the meeting, Claudio Descalzi illustrated the positive progress of Eni’s activities in Kazakhstan, with a particular focus on the projects for the Kashagan and Karachaganak fields, and Eni’s partnership with State Oil Company KazMunaiGaz, both for the Isatay offshore exploration area and the shipyard project in Mangystau Region.

Claudio Descalzi also commented on the recent agreement between the government of Kazakhstan and the Kashagan partners, which resolved a number of operational, financial, and ecological matters. “This agreement provides further momentum to achieve the earliest safe restart of Kashagan production and reinforces our strategic decision to continue investing in Kazakhstan, a country with supergiant oil and gas fields and a positive investment climate. These factors are particularly relevant in the current volatile market, which requires our industry to be increasingly selective in the capital investment programs.‘

Eni has been present in Kazakhstan since 1992, where it is co-operator of the Karachaganak field and participates in the North Caspian Sea PSA consortium, responsible for the operations related to the Kashagan field.

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