de cotation: Italian
is one of the leading
integrated energy companies in the world operating in the oil and gas,
power generation, petrochemicals, engineering and construction
Eni is present in 73 countries and is Italy’s largest company by market
Eni announces Results for the Third Quarter and Nine Months 2013
San Donato Milanese, October 30, 2013 - Eni, the international oil and
gas company, today announces its group results for the third quarter
and nine months 2013 (unaudited)1 .
Adjusted operating profit: €3.44 billion for the quarter (down
15.7%3); €9.1 billion for the nine months (down 35.2%3);
Adjusted net profit: €1.17 billion for the quarter (down 29.4%3);
€3.13 billion for the nine months (down 41%3);
Net profit: €3.99 billion for the quarter (up 61.9%); €5.81
billion for the nine months (down 5.8%);
Operating cash flow: €3.04 billion for the quarter; €7.79 billion
for the nine months;
Leverage at 0.24.
Oil and gas production: 1.653 mmboe/d in the quarter, down 3.8%,
due to extraordinary reductions in Nigeria and Libya (down 3.1% in the
Recognized net consideration and net gain of €3 billion on the
divestment to CNPC of the 28.57% interest in Eni East Africa, owner of
the mineral rights in Area 4 in Mozambique;
Produced first oil at the giant Kashagan oil field;
Made large exploration successes offshore Mozambique, Congo and
Resource base increased by 0.7 billion barrels in the quarter;
1.6 billion barrels in the nine months.
Paolo Scaroni, Chief Executive Officer, commented:
"In the third quarter of 2013, we achieved significant exploration
successes, made excellent progress in our development activities with
new field start-ups and monetized part of our interest in Mozambique.
These operating successes strengthen our profitability outlook against
the backdrop of a quarter that has not only been affected by difficult
market conditions in the European markets of mid and downstream, but
also by the extraordinary reductions of production in Nigeria and
Libya, and by the appreciation of the euro. Considering that these
trends are temporary and given the solidity of our businesses, we will
start the buyback program."
Eni announces results for the fourth quarter and the full year 2012
announces the results for the First Quarter of 2010
Adjusted operating profit: up 15.4% to €4.33 billion
Adjusted net profit: up 3.6% to €1.82 billion
Net profit: up 16.7% to €2.22 billion
Cash flow: €4.55 billion
Oil and natural gas production: up 2.1% to 1.816 million barrels per day
Natural gas sales: down 5.7% to 30.51 billion cubic meters.
Occidental Petroleum and KOGAS sign the technical service contract with
Iraq's South Oil Company and Missan Oil Company to redevelop Zubair
Operations and Strategies Company Investor Relations oil basin Zubair
to increase by 1 million barrels of oil per day
to invest approximately $20 billion over the life of the 20 year
to provide training and employment opportunities for Iraqis
Donato Milanese (Mi), 22 January, 2010 – Eni, Occidental Petroleum
(Oxy) and Korea Gas Corporation (KOGAS) announced today that they have
signed a contract with Iraq's state-owned South Oil Company (SOC) and
Oil Company, to redevelop the Zubair field, near Basra in southern Iraq.
consortium, led by Eni (32.81%) with partners Oxy (23.44%), KOGAS
and the Missan Oil Company (25%), plans to increase production from the
Zubair field to 1.2 million barrels of oil a day, representing an
of more than 1 million barrels of oil per day. Target production is
to be progressively reached within the next six years and maintained
seven years thereafter.
consortium will earn $2 per barrel on the incremental oil production
production has been raised by 10 percent from its current level of
200,000 barrels of oil per day and will recover its expenditures
a cost recovery mechanism. The consortium plans to invest approximately
$20 billion over the life of the 20 year contract, which has possible
to 25 years.
redevelopment of the Zubair field, one of the largest discovered fields
in the world, will materially contribute to support Iraq in becoming a
major player in global oil markets. It will also foster the social and
economic development at a regional and national level, not only by
training and development opportunities for the many thousands of Iraqi
workers of Zubair, but also by promoting much-needed economic stimulus.
Zubair Field Operating Division will manage the rehabilitation and
project, which will be staffed mainly by employees from South Oil
and expert support from the consortium, with the intent to
develop a self-sustained organization.
signing of the Zubair contract comes as a result of Eni's commitment to
becoming a long-term partner for the development of Iraq's hydrocarbon
industry. Our experience in similar environments, the financial and
strength of our consortium and the deep knowledge of our partner SOC,
constitute the building blocks of a successful venture," said Paolo
Chief Executive Officer of Eni.