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    Overview

    Letter to shareholders

    In 2015 the transformation of Eni which management started in 2014 anticipating a prolonged downturn in crude oil prices, has achieved outstanding results by growing the core oil&gas business, restructuring the industrial setup in other businesses and by improving organizational efficiency.

    Emma Marcegaglia, CHAIRMAN (photo)

    Emma Marcegaglia

    Chairman

    Claudio Descalzi, CHIEF EXECUTIVE OFFICER AND GENERAL MANAGER (photo)

    Claudio Descalzi

    CEO and general manager

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    Integrated report

    Eni’s 2015 integrated annual report is prepared in accordance with principles included in the “International Framework”, published by International Integrated Reporting Council (IIRC). It is aimed at representing financial and sustainability performance, underlining the existing connections between competitive environment, group strategy, business model, integrated risk management and a stringent corporate governance system.

    Since 2011, Eni takes part in the IIRC Pilot Program, whose aim is to define an international framework for integrated reporting

    Cash flow from operations

    Performance of the year

    €12.2 bln

    self financed investments at 53$/bl Brent scenario

    Discovered resources

    Performance of the year

    1.4 bln boe
    Hydrocarbon production growth

    Performance of the year

    +10%

    from 1.76 mln bl/d

    Renegotiation of gas supply portfolio

    Performance of the year

    70%

    of supply contracts indexed to market conditions

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    Operating review

    Exploration & Production

    Eni’s Exploration & Production segment engages in oil and natural gas exploration and field development and production, as well as LNG operations in 42 countries, including Italy, Angola, Congo, Egypt, Ghana, Libya, Mozambique, Nigeria, Norway, Kazakhstan, the United Kingdom, the United States and Venezuela.

    Gas & Power

    Eni’s Gas & Power segment engages in supply, trading and marketing of gas and electricity, international gas transport activities, and LNG supply and marketing. This segment also includes the activity of electricity generation that is ancillary to the marketing of electricity.

    Refining & Marketing

    Eni’s Refining & Marketing segment engages in crude oil supply and refining. It markets petroleum products to wholesalers or through retail networks, mainly in Italy and in the rest of Europe.

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    Performance

    In 2015, on the back of a weak Brent price scenario, Eni achieved remarkable results leveraging on its refocused portfolio, profitable growth in the upstream segment and cost efficiency programs.

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