Results of operations from oil and gas producing activities

Results of operations from oil and gas producing activities represent only those revenues and expenses directly associated with such activities, including operating overheads. These amounts do not include any allocation of interest expense or general corporate overhead and, therefore, are not necessarily indicative of the contributions to consolidated net earnings of Eni. Related income taxes are computed by applying the local income tax rates to the pre-tax income from producing activities. Eni is a party to certain Production Sharing Agreements (PSAs), whereby a portion of Eni’s share of oil and gas production is withheld and sold by its joint venture partners which are state owned entities, with proceeds being remitted to the state in satisfaction of Eni’s PSA related tax liabilities. Revenue and income taxes include such taxes owed by Eni but paid by state-owned entities out of Eni’s share of oil and gas production. Results of operations from oil and gas producing activities by geographical area consist of the following:

Enlarge table

(XLS:) Download table

(€ million)

Italy

Rest of Europe

North Africa

Sub-Saharan Africa

Kazakh-
stan

Rest of Asia

Americas

Australia and Oceania

Total

(a)	Includes asset impairments amounting to €189 million in 2011.
(b)	The “Successful Effort Method” application would have led to an increase of €118 million in 2011 for the consolidated subsidiaries and an increase of €20 million in 2011 for equity-accounted entities.

2011

Consolidated subsidiaries

Revenues:

- sales to consolidated entities

3,583

3,695

1,956

5,945

411

178

1,634

17,495

- sales to third parties

514

5,090

1,937

1,268

1,233

132

344

10,518

Total revenues

3,583

4,209

7,046

7,882

1,679

1,411

1,766

437

28,013

Operations costs

(284)

(566)

(483)

(830)

(171)

(183)

(364)

(88)

(2,969)

Production taxes

(245)

(165)

(853)

(37)

(1,300)

Exploration expenses

(38)

(113)

(128)

(509)

(6)

(177)

(136)

(58)

(1,165)

D.D. & A. and Provision for abandonment ^(a)

(606)

(704)

(843)

(1,435)

(112)

(486)

(901)

(103)

(5,190)

Other income (expense)

(562)

142

(508)

(314)

(160)

(151)

125

(1,420)

Pretax income from producing activities

1,848

2,968

4,919

3,941

1,230

377

490

196

15,969

Income taxes

(761)

(2,043)

(3,013)

(2,680)

(413)

(157)

(184)

(120)

(9,371)

Results of operations from E&P activities of consolidated subsidiaries ^(b)

1,087

925

1,906

1,261

817

220

306

6,598

Equity-accounted entities

Revenues:

- sales to consolidated entities

- sales to third parties

262

465

Total revenues

262

465

Operations costs

(11)

(10)

(9)

(17)

(47)

Production taxes

(1)

(4)

(113)

(118)

Exploration expenses

(6)

(5)

(8)

(9)

(28)

D.D. & A. and Provision for abandonment

(1)

(24)

(23)

(21)

(69)

Other income (expense)

(4)

(20)

(51)

(58)

Pretax income from producing activities

(9)

145

Income taxes

(4)

(35)

(32)

(4)

(75)

Results of operations from E&P activities of equity-accounted entities ^(b)

(9)

(3)

Enlarge table

(XLS:) Download table

(€ million)

Italy

Rest of Europe

North Africa

Sub-Saharan Africa

Kazakh-
stan

Rest of Asia

Americas

Australia and Oceania

Total

(a)	Includes asset impairments amounting to €547 million in 2012.
(b)	The “Successful Effort Method” application would have led to an increase of €189 million in 2012 for the consolidated subsidiaries and a decrease of €2 million in 2012 for equity-accounted entities.

2012

Consolidated subsidiaries

Revenues:

- sales to consolidated entities

3,712

3,177

2,338

6,040

459

425

1,614

425

18,190

- sales to third parties

715

9,129

2,243

1,368

1,387

106

333

15,331

Total revenues

3,762

3,892

11,467

8,283

1,827

1,812

1,720

758

33,521

Operations costs

(302)

(655)

(606)

(913)

(188)

(209)

(361)

(134)

(3,368)

Production taxes

(307)

(390)

(818)

(43)

(1,558)

Exploration expenses

(32)

(154)

(153)

(993)

(3)

(230)

(147)

(123)

(1,835)

D.D. & A. and Provision for abandonment ^(a)

(779)

(683)

(1,137)

(1,750)

(120)

(720)

(1,256)

(167)

(6,612)

Other income (expense)

(198)

(122)

(934)

(435)

206

(149)

(42)

(1,600)

Pretax income from producing activities

2,144

2,278

8,247

3,374

1,722

461

292

18,548

Income taxes

(919)

(1,524)

(5,194)

(2,508)

(736)

(176)

(14)

(164)

(11,235)

Results of operations from E&P activities of consolidated subsidiaries ^(b)

1,225

754

3,053

866

986

285

128

7,313

Equity-accounted entities

Revenues:

- sales to consolidated entities

- sales to third parties

144

300

510

Total revenues

144

300

510

Operations costs

(10)

(5)

(14)

(20)

(49)

Production taxes

(1)

(3)

(4)

(128)

(136)

Exploration expenses

(5)

(2)

(11)

(4)

(22)

D.D. & A. and Provision for abandonment

(50)

(2)

(13)

(41)

(35)

(141)

Other income (expense)

(7)

(48)

(6)

(55)

(114)

Pretax income from producing activities

(61)

(33)

Income taxes

(3)

(36)

(38)

(73)

Results of operations from E&P activities of equity-accounted entities ^(b)

(61)

(29)

(25)

Enlarge table

(XLS:) Download table

(€ million)

Italy

Rest of Europe

North Africa

Sub-Saharan Africa

Kazakh-
stan

Rest of Asia

Americas

Australia and Oceania

Total

(a)	Includes asset impairments amounting to €15 million in 2013.
(b)	The “Successful Effort Method” application would have led to a decrease of €20 million in 2013 for the consolidated subsidiaries and an increase of €6 million in 2013 for equity-accounted entities.

2013

Consolidated subsidiaries

Revenues:

- sales to consolidated entities

3,784

2,468

2,341

5,264

396

870

1,537

146

16,806

- sales to third parties

704

7,723

1,855

1,175

864

338

12,752

Total revenues

3,784

3,172

10,064

7,119

1,571

1,734

1,630

484

29,558

Operations costs

(391)

(717)

(649)

(932)

(192)

(224)

(342)

(119)

(3,566)

Production taxes

(326)

(317)

(710)

(38)

(25)

(1,416)

Exploration expenses

(32)

(288)

(95)

(869)

(1)

(205)

(136)

(110)

(1,736)

D.D. & A. and Provision for abandonment ^(a)

(909)

(573)

(1,192)

(1,882)

(111)

(524)

(848)

(5,996)

Other income (expense)

(271)

161

(1,009)

(519)

(105)

(140)

(11)

(1,874)

Pretax income from producing activities

1,855

1,755

6,802

2,207

1,162

603

324

262

14,970

Income taxes

(873)

(1,006)

(4,281)

(1,702)

(396)

(178)

(117)

(149)

(8,702)

Results of operations from E&P activities of consolidated subsidiaries ^(b)

982

749

2,521

505

766

425

207

113

6,268

Equity-accounted entities

Revenues:

- sales to consolidated entities

- sales to third parties

199

243

488

Total revenues

199

243

488

Operations costs

(11)

(44)

(18)

(23)

(96)

Production taxes

(4)

(14)

(113)

(131)

Exploration expenses

(8)

(3)

(25)

(1)

(37)

D.D. & A. and Provision for abandonment

(1)

(65)

(40)

(107)

Other income (expense)

(4)

(12)

(13)

(38)

(62)

Pretax income from producing activities

(13)

(30)

Income taxes

(4)

(10)

(35)

(19)

Results of operations from E&P activities of equity-accounted entities ^(b)

(13)

(40)