eni.com
FACT SHEET
FTMIB: ENI US ADR: E
WHO WE ARE
Eni is one of the largest integrated energy companies in the
world, operating in the sectors of oil and gas exploration &
production, international gas transportation and marketing,
-
30 % Italian Gov
70 % Market
Major equity
holdings
Eni is active in 85 countries with 82,300 employees.
Our commitment to sustainable development means that
we grow and retain our people, contribute to the development and wellbeing of the communities in which we operate, protect the environment, and invest in technological
innovation and energy efficiency, mitigating the risks of
climate change.
Exploration & Production
Snam
Galp
8%
8%
Gas & Power
& Construction
43 % Engineering
(Saipem)
100 % Chemicals (Versalis)
INVESTMENT CASE
1) Unbeatable exploration success
Between 2008 and 2014, Eni has discovered more than 10 billion boe, equivalent to 2.5 times its production over the same period. In the next
four years 2015-18 Eni’s target is to discover 2 billion boe at a unit cost of 2.6 $. These discoveries will fuel future growth and accelerate cash
generation through the dilution of shares in the discoveries in which Eni holds a large working interest.
2) Production growth resulting in strong cash generation
The new project portfolio has a breakeven of 45 $/boe.
3)
G&P: Eni holds a leading position in the European gas sector and it has begun a transformation process of its activities, with supply contract
renegotiations, transport capacity reductions and a focus on high value segments (LNG, trading and retail). These actions brought the G&P
sector to breakeven already in 2014.
optimization will contribute to bringing the R&M sector to adj ebit breakeven in 2015.
Chemicals: Versalis will reach breakeven in 2016 thanks to “green” chemical plants reconversions and the expansion of its international foot print with joint ventures in Asia.
4)
In 2012-14, Eni has completed divestments totalling 17 billion euro. The sales did not meaningfully impact long term production prospects
and helped reduce exposure to exploration assets or non-core holdings. Over the course of the 4-year-plan, Eni will complete 8 billion euro in
divestments with the sale of the residual shares in Snam and Galp, divestment of certain assets in the mid/downstream, as well as the dilution
programme already underway.
5) Progessive dividends and buyback
In 2015 a dividend of € 0.8 (yield >5%) will be proposed.
Eni’s distribution policy will remain progressive.
6) Leader in sustainability
Eni is a leader in the FTSE4Good and Dow Jones sustainability indices.
SHARE PERFORMANCE 2014 (%)
DIVIDEND (€/SHARE) AND DIVIDEND YIELD (%)
€ 1.2
8%
120%
7%
€ 1.0
6%
€ 0.8
110%
5%
100%
€ 0.6
4%
3%
€ 0.4
90%
2%
€ 0.2
1%
€ 0.0
80%
0%
2009
2010
Dividend paid
2011
2012
Dividend proposed
2013
2014
2015
Dividend yield
FTSEMIB
Eni
Peer Group (1)
70%
Dec-13
Jun-14
Dec-14
(1) Peer Group: BP, Chevron, Repsol, Exxon, Shell, Total
Last update March 2015
pag. 1
eni.com
FACT SHEET
FTMIB: ENI US ADR: E
EXPLORATION AND PRODUCTION
Long term production growth
2014-18 CAGR(*) 3.5%
E&P is our main business. It is currently present in 42 countries and is
kboed
organic production growth, leveraging on a high-quality portfolio of assets and long-standing relationships with host countries.
Jangkrik
Bahr Essalam Ph2
Val d’Agri
CAFC Oil
Goliat
Mafumeira Sul 15/06 East Hub
Perla
Heidelberg
OCTP
Oil
OCTP Gas
Hadrian South
Kashagan EP
Nenè ph2
Argo Cluster
Intisar gas
and project synergies.
+5%
2014 HIGHLIGHTS
1.598
2014
2015
2016
2017
1.6 Mboe/d of production
6.6 mmboe proved reserves with a life index of 11.3 y
112% organic reserve replacement ratio
€ 11.5 B
€ 10.5 B capex
2018
start up/ramp up >650 kboed in 2018
19 bn € cumulative CFFO
2014-2018 Strategic Plan
(*) Compound Annual Growth Rate
GAS & POWER
REFINING & MARKETING
G&P is engaged in all phases of the
gas value chain: supply, trading and
marketing of gas and electricity, gas
infrastructures, and LNG supply and
marketing. Eni sells more than 60%
of its gas outside Italy and its
leading position in the European gas
market is supported by competitive
advantages, including its multicountry
approach, long-term gas availability,
access to infrastructure, market
knowledge, wide product range and
strong customer base.
2014 HIGHLIGHTS
other oil products primarily in Italy.
Our R&M division is relatively small
compared to the R&M segment of
€ 0.31 B
€ 0.17 B capex
89 bcm gas sold worldwide
33 Twh electricity sold
ENI IN NUMBERS
Production of oil and natural gas (kboe/d)
Capital expenditure (€ million)
Net debt (€ million)
2010
in Italy and the leading operator in
retail marketing of fuels with a market
share of around 25,5%.
Eni’s strategy in R&M is to cut capacity and costs and enhance mar-
2011
2012 (1)
2014 HIGHLIGHTS
€ -0.21 B
€ 0.53 B capex
25 Mtonnes throughput
2013
2014
1,815
1,581
1,701
1,619
1,598
17,304
17,974
19,010
12,650
11,572
6,869
6,969
7,130
4,430
3,707
13,870
13,438
12,761
12,800
12,240
14,694
14,382
12,356
11,026
15,089
26,119
28,032
15,511
15,837
13,709
0,47
0,46
0,25
0,25
0,22
Leverage
LATEST ANNOUNCEMENTS AND ACCOMPLISHMENTS
•
•
•
•
•
•
•
•
13
19
05
30
30
March
January
January
October
October
2015 - Eni 2015-2018 Strategic Plan – Transforming Eni to Create Value
2015 - Eni obtained a 3-year extension on the exploration period of Block 15/06 in Angola
2014 - Eni: third quarter and nine months of 2014 results
2014 - Eni signs a cooperation agreement with Kogas on upstream and LNG activities
•
• 25 September
CONTACTS
2014 - Eni continues its share buyback programme
2014 - Eni has been awarded 3 new exploration licenses in Egypt
Eni spa Investor Relations - Piazza Vanoni, 1 - 20097 San Donato Milanese (MI) Italy
Telephone: +39 02 52 05 16 51 Fax: +39 02 52 03 19 29 Email: [email protected]
Website: www.eni.com
Last update March 2015
pag. 2