We are an energy company. We are working to build a future where everyone can access energy resources efficiently and sustainably.  Our work is based on passion and innovation, on our unique strengths and skills, on the quality of our people and in recognising that diversity across all aspects of our operations and organisation is something to be cherished.  We believe in the value of long term partnerships with the countries and communities where we operate.

Activities

  • Development

    Main start-ups are the Area 1 project (Eni operator with a 100% interest) in Mexico, the Merakes project (Eni operator with an 85% interest) in Indonesia, the gas development of the Offshore Cape Three Points license (Eni operator with a 44.44% interest) in Ghana, as well as phased start-up of the discoveries in the Great Nooros Area in Egypt and in the Block 15/06 (Eni's operator with a 36.84% interest) in Angola.

  • Distribution of Refined Products

    In 2017, retail sales of refined products (33.20 mmtonnes) were down by 0.21 mmtonnes or by 0.6% from 2016, mainly due to the decrease of wholesale sales in Italy and the asset disposals in Hungary and Slovenia in the second half of 2016.

  • Exploration

    In 2017, exploration expenditure amounted to €442 million, and mainly concerned Cyprus, Norway, Mexico, Egypt, Libya and Ivory Coast as well as related to the completion of the 25 new exploratory wells (15.9 net to Eni). In addition, 78 exploratory drilled wells are in progress at year-end (41.2 net to Eni). In 2017 additions to the Company's reserve backlog were 1 billion boe of new resources, of which 800 million boe from in-house exploration with a discovery cost of approximately $1 per barrel. From 2014, we discovered over 4 billion boe, approximately double of equity production in the same period.

  • Gas Supply

    In 2017, Eni’s consolidated subsidiaries supplied 78.28 bcm of natural gas, down by 4.36 bcm or by 5.3% from 2016. Gas volumes supplied outside Italy from consolidated subsidiaries (73.23 bcm), imported in Italy or sold outside Italy, represented approximately 94% of total supplies, down by 3.41 bcm or by 4.4% from 2016. This reflected lower volumes purchased in the Netherlands (down by 4.40 bcm) following a contractual termination, in Qatar (down by 0.92 bcm) and in Norway (down by 0.70 bcm) partially offset by higher purchases in the United Kingdom (up by 0.28 bcm) and in Algeria (up by 0.28 bcm).

  • Gas sales

    In 2017 characterized by a raising competitive pressure and a slight recovery in demand, natural gas sales amounted to 80.83 bcm (including Eni’s own consumption and Eni’s share of sales made by equity-accounted entities), down by 5.48 bcm or 6.3% from the previous year.

  • Power Generation

    Eni’s power generation sites are located in Ferrera Erbognone, Ravenna, Mantova, Brindisi, Ferrara and Bolgiano. As of December 31, 2017, installed operational capacity of Enipower’s power plants was 4.7 GW (unchanged from December 31, 2016). In 2017, power generation was 22.42 TWh, up by 0.64 TWh or by 2.9% from 2016. Electricity trading (12.91 TWh) reported a decrease of 15.5% thanks to the optimization of inflows and outflows of power.

  • Power sales

    In 2017, power sales of 35.33 TWh declined by 4.6% from the full year of 2016 and were directed to the free market (75%), the Italian power exchange (15%), industrial sites (8%) and other (2%).

  • Production

    In 2017, oil and natural gas production averaged a record level of 1,816 kboe/d, up by 3.2%. This performance was driven by new project start-ups and the ramp-ups at fields started up in 2016, mainly in Angola, Egypt, Ghana, Indonesia and Kazakhstan as well as by restarting production at certain Libyan fields thanks to better safety conditions. These positive results were partly offset by OPEC production cuts, negative price effects at PSAs contracts and lower production as a result of planned and unplanned shutdowns in Norway, the United Kingdom and the Gulf of Mexico, as well as declines from mature fields. When excluding price effects at PSAs contracts and OPEC cuts (overall 35 kboe/d), hydrocarbons production increased by 5.3%. The share of oil and natural gas produced outside Italy was 93% (92% in 2016).

  • Refining

    In 2017, Eni’s refining throughputs in Europe were 24.02 mmtonnes, decreased by 2% from 2016 due to the downtime of some plants at Sannazzaro refinery and the shutdown at the Taranto refinery, partly offset by a better performance of Milazzo and Livorno refineries. In Italy, the decreasing of refinery throughputs (down by 2.1%) was caused by the same drivers above mentioned. The volumes of biofuels produced from vegetable oil at the Venice green refinery increased by 14.3% from the corresponding period of 2016.

  • Trading

    Through Eni Trading & Shipping (ETS), Eni is involved in the international marketing of crude oil and petroleum products, and the shipping and trading of all Eni commodities. ETS operates as Eni’s single interface on the international markets for crude oil, gas, power, CO₂ and petroleum products derived from oil refining, but also to the related shipping markets, ensuring a comprehensive and integrated approach that is reinforced by relationships and Eni’s extensive portfolio of assets. The company also develops advanced risk management solutions.

Eni

We are an energy company. We are working to build a future where everyone can access energy resources efficiently and sustainably.  Our work is based on passion and innovation, on our unique strengths and skills, on the quality of our people and in recognising that diversity across all aspects of our operations and organisation is something to be cherished.  We believe in the value of long term partnerships with the countries and communities where we operate.

Eni history

The history of Eni and its companies is a long one, and is closely related to the development of Italy. Take a journey back in time, through pictures and videos on the EniHistory web site to find our about our past.

Visit the website

Eni in numbers

2015(*) 2016 2017
Production of oil and gas (Mboe/d) 1.8 1.8 1.8
Eni adj. Operating profit (€ billion) 4.5 2.3 5.8
Eni adj. Net profit (€ billion) 0.8 -0.3 2.4
Capital expenditure (€ billion) 10.7 9.2 7.6
Net cash flow from operations (€ billion) 12.2 7.7 10.0
Net debt (€ billion) 16.9 14.8 10.9
Leverage (ratio) 0.29 0.28 0.23

(¹) net of Saipem

Source: Fact Sheet

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