Exploration & Production

In Exploration & Production, Eni confirms its strategy of organic growth by applying its consolidated development model characterized by Eni’s presence in the conventional projects of large dimension as well as efficient structure of development costs, leveraging on significant exploration successes which are proved to be efficient and effective way to achieve the growth of resource base, a driver for production growth/portfolio diversification as well as a vehicle to cash generation by means of discoveries monetization.

The Plan’s targets are:

• robust cash generation from operations up on average by 5% on an annual basis;
• production growth at a rate of 3% in the 2014-2017 period, supported by the development of core areas (including Sub-Saharan Africa, Venezuela, Barents Sea, Kazakhstan) coupled with rebalanced risk profile of our portfolio;
• increase of our resource base, up by 3.2 billion boe in the four-year period, which are planned to be achieved through a capital expenditure plan 5% lower than the previous one.