operating review

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Exploration & Production

1.1 billion boe
of discovered resources

continuing strong exploration
track record

-14%

opex decrease due
to efficiency improvements

Adjusted operating profit
(€ million)
E&P – Adjusted operating profit (bar chart)E&P – Adjusted operating profit (bar chart)
Opex per boe
($/boe)
E&P – Opex per boe (bar chart)E&P – Opex per boe (bar chart)
CO2eq emissions/operated
production
(tons C02eq/toe)
E&P – CO2eq emissions/operated production (bar chart)E&P – CO2eq emissions/operated production (bar chart)

organic reserves replacement ratio of

193%
sale of 40%
in Zohr

Our dual exploration
model proved to be successful

Hydrocarbons production
(kboe/d)
E&P – Hydrocarbons production (bar chart)E&P – Hydrocarbons production (bar chart)
Total recordable injury rate (TRIR)
(Total recordable injuries per mln worked hours)
E&P – Total recordable injury rate (TRIR) (bar chart)E&P – Total recordable injury rate (TRIR) (bar chart)
Proved hydrocarbons reserves
(mmboe)
E&P – Proved hydrocarbons reserves (bar chart)E&P – Proved hydrocarbons reserves (bar chart)
-9%

improving upstream
GHG emissions, exceeding the target

Improved prospects of

organic production growth

notwithstanding a 17%
capex reduction vs 2015

Gas & Power

about

9 million

customers including households, professionals, small and medium-sized enterprises and public bodies in Italy and in the Rest of Europe

Progress in

gas contract renegotiations

to substantially reduce future losses

Adjusted operating profit
(€ million)
G&P – Adjusted operating profit (bar chart)G&P – Adjusted operating profit (bar chart)
Total recordable injury rate (TRIR)
(Total recordable injuries per mln worked hours)
G&P – Total recordable injury rate (TRIR) (bar chart)G&P – Total recordable injury rate (TRIR) (bar chart)
Worldwide gas sales
(bcm)
G&P – Worldwide gas sales (bar chart)G&P – Worldwide gas sales (bar chart)
38.43 bcm

gas sales in Italy

Positive cash generation

notwithstanding the weak scenario

Customers in Italy
(million)
G&P – Customers in Italy (bar chart)G&P – Customers in Italy (bar chart)
LNG sales
(bcm)
G&P – LNG sales (bar chart)G&P – LNG sales (bar chart)
GHG emissions/kWheq
(gCO2eq/kWheq )
G&P – GHG emissions/kWheq (bar chart)G&P – GHG emissions/kWheq (bar chart)
37.05 Twh

electricity sold

Break-even

in 2017
driven by ongoing actions

Refining & Marketing and Chemicals

about 4.2 $/bbl

break-even refining margin

24.3%

Retail market share in Italy

Adjusted operating profit
(€ million)
R&M – Adjusted operating profit (bar chart)R&M – Adjusted operating profit (bar chart)
Total recordable injury rate (TRIR)
(Total recordable injuries per mln worked hours)
R&M – Total recordable injury rate (TRIR) (bar chart)R&M – Total recordable injury rate (TRIR) (bar chart)
Refinery throughputs on own account
(mmtonnes)
R&M – Refinery throughputs on own account (bar chart)R&M – Refinery throughputs on own account (bar chart)
€305 million

adjusted operating profit of Chemical segment benefiting from the finalization of the restructuring plan

89.5%

refinery utilization rate

Direct GHG emissions
(mmtonnes CO2eq)
R&M – Direct GHG emissions (bar chart)R&M – Direct GHG emissions (bar chart)
Retail sales of refined products in Europe
(mmtonnes)
R&M – Retail sales of refined products in Europe (bar chart)R&M – Retail sales of refined products in Europe (bar chart)
Production of petrochemical products
(mmtonnes)
R&M – Production of petrochemical products (bar chart)R&M – Production of petrochemical products (bar chart)

Progress on the integrated project for the

reconversion of Gela Refinery

down by

69%

oil spills due to operations