|Type||Società per azioni|
|Traded as||BIT: ENI, NYSE: E|
|Industry||Oil and gas|
|Founded||February 10, 1953|
|Key people||Emma Marcegaglia (Chairman)
Claudio Descalzi (CEO)
|Revenue||€128.8 billion (2012)|
|Operating income||€18.064 billion (2012)|
|Net income||€7.788 billion (2012)|
|Total assets||€139.641 billion (2012)|
|Total equity||€62.713 billion (2012)|
Eni Gas & Power
Eni S.p.A. is an Italian multinational oil and gas company headquartered in Rome. It has operations in 79 countries, and is currently Italy's largest industrial company with a market capitalization of 68 billion euros (US$ 90 billion), as of August 14, 2013. The Italian government owns a 30.3% golden share in the company, 3.93% held through the state Treasury and 26.37% held through the Cassa depositi e prestiti. Another 2.29% of the shares are held by BNP Paribas.
The name "ENI" was initially the acronym of "Ente Nazionale Idrocarburi" (national hydrocarbons authority). Through the years after its foundation however, it operated in a large number of fields including contracting, nuclear power, energy, mining, chemicals and plastics, refining/extraction and distribution machinery, hospitality industry and even textile industry and news.
- 1 History
- 2 Operations
- 3 Subsidiaries
- 4 Controversies
- 5 Sustainability
- 6 See also
- 7 References
- 8 Bibliography
- 9 External links
Eni was founded and established by law in 1953 from an existing company, Agip, created in 1926 with the aim to explore for oilfields, acquire and commercialize oil and derivatives. On March 1953 Enrico Mattei was nominated Eni’s Chairman.
Starting 1954 Eni holds extensive exploration rights in North Africa, signing an agreement with the Egyptian government lead by Nasser while providing an active and equal role for the crude producing countries through the establishment of joint ventures.
In October 1973 after the Yom Kippur War and the embargo against the United States and the Netherlands agreed by OPEC members Arab countries, a serious oil crisis occurred, pushing Eni in need to consolidate its position in the international market by signing an agreement with Sonatrach, the Algerian state oil entity for natural gas supply.
In 1974 Eni signed an agreement with Libyan government, followed by further agreements with Egypt, Nigeria and Tunisia, while developing two new major oil discoveries in the British North Sea got on 1972.
During the middle 70’s Eni planned a major infrastructure for transporting natural gas over long distances by building a pipeline network of thousands of miles throughout Europe and the Mediterranean.
After the inauguration of the Trans-Mediterranean Pipeline connecting Algeria to Sicily through Tunisia, Eni signs a new agreement with Libya for the exploitation of Boùri, the biggest oilfield in the centre of the Mediterranean, and develops its international role within the oil industry.
As the price of oil collapsed in 1998 as other major companies Eni got to turn into a race through merges, international acquisitions, new explorations and the foundation of real super-companies.
2000 to present
Activist asset manager Knight Vinke, which owns 1% of the outstanding shares of the company, in October 2009 has begun pressing Eni's management to operate a spin off of Eni's gas activities. In its opinion this would solve the undervaluation of the company and release up to 50 billion euros ($70bn) of hidden value.
After getting a licence in 2006 for the exploration of an offshore area in the north of Mozambique, known as Area 4, Eni announced several major natural gas discoveries between 2011 and 2012 such as Mamba South, Mamba North, Mamba North East, Coral 1.
In February 2014, ENI discovered oil at its DRC offshore block.
Exploration & production
As exploration and reserve replacement being major drivers for the company, Eni boosts for production additions in its core oil field areas (North and Sub-Saharan Africa, Venezuela, Barents Sea, Yamal Peninsula, Kazakhstan, Iraq and the Far East). Eni has about 130 exploration and production subsidiaries, such as Eni Norge.
In 2012 Eni reported liquids and gas production for the full year of 1,701 kboe/d, this being calculated assuming a natural gas conversion factor to barrel equivalent, updated to 5,492 cubic feet of gas equal 1 barrel of oil from July 1, 2012.
During 2012 60 new exploratory wells were drilled, as 56 were drilled in 2011 and 47 in 2010. The overall commercial success rate was 40% (40.8% net to Eni) as compared to 42% in 2011 (38.6% net to Eni) and 41% in 2010 (39% net to Eni). In 2012 351 development wells were drilled as well, as 407 in 2011 and 399 in 2010.
Gas & Power
Eni's power generation sites are located in Ferrera Erbognone, Ravenna, Livorno, Taranto, Mantova, Brindisi, Ferrara and Bolgiano. In 2012, Eni's power generation was 25.67 TWh.
Overall Eni supplies 2,600 customers including large companies, power generation companies, wholesalers and distributors of natural gas for automotive use. Residential users are 7.45 million and include households, professionals, small and medium size enterprises, and public bodies located all over Italy and 2.09 million customers in European Countries. International sales include Iberian Peninsula, Germany, Austria, Benelux, Hungary, UK/Northern Europe, Turkey, France markets.
Eni's electricity generation sites in Italy, as of January 2010, are the following:
- Natural gas power plants
- Brindisi - 1321 MW
- Ferrara - 61 MW
- Ferrera Erbognone - 1030 MW
- Livorno - 199 MW
- Mantova - 836 MW
- Ravenna - 972 MW
- Taranto - 300 MW
- Photovoltaic power plants
- Nettuno - 30 MW
Refining & Marketing
Eni is the leader operator in refining and marketing of petroleum products in Italy.
Eni is engaged in retail and wholesales activities in Central-Eastern European countries also (Austria, France, Germany, Italy, Czech Republic, Romania, Slovakia, Slovenia, Switzerland, Hungary).
Retail sales operations are conducted under the Eni and Agip brands. The re-branding of Eni's service stations in Italy and in the rest of Europe to Eni brand is underway.
Engineering & Construction
In April 2012, Eni in collaboration with ZEiTECS announced the world's first offshore rigless/wireline retrievable ESP system for Eni Congo.
Eni's principal subsidiaries include:
- Eni Gas & Power (100% owned) - a natural gas and power company based in Belgium formed by merger of Distrigas and Nuon Belgium
- versalis (100% owned) - Versalis is a chemical company that manages the production and marketing of petrochemical products such as olefines, aromatics and intermediates (base chemicals), styrenes, elastomers and polyethylene, plus in recent years a focus on green chemistry, being also able to count on a range of proprietary technologies, advanced plant facilities and a broad-based distribution network.
- Saipem (43% owned) - Saipem is an oil and gas industry contractor. Saipem has contracted for engineering, oilfield services and construction both offshore and onshore through several pipelines, including Blue Stream, Greenstream, Nord Stream and South Stream. It is a subsidiary listed on the Italian Stock Exchange.
- Eni UK - carries out operations in the British section of the North Sea, in the Irish Sea and off the coast of the Shetland Islands. Has been present in UK since 1964. In 2006 Eni UK's average net production of hydrocarbons was more than 141,000 boe/d.
- Eni India is expected to start drilling at a deepwater block 2, near Andaman and Nicobar Islands in Q2 of 2011 as it has received 2 year extension for the completion of drilling program. The program was delayed due to various environmental issues and scarcity of oil rigs. ENI India had won this block in 2005 and partners with ONGC and GAIL India.
In 2009, the European Commission filed formal antitrust charges against Eni. The commission believes that Eni has conspired to keep competitors from using its gas pipelines.
In 2009 again, according to the WikiLeaks cables, US ambassador Lanier told Washington that bribery allegations were made in Uganda by Eni which at the time was in competition for oil assets in the country against Tullow Oil. The bribes were taken by the newly appointed Ugandan prime minister, Amama Mbabazi. 
After corruption charges around the subsidiary Saipem, Eni's CFO Alessandro Berninihad to resign and the new CFO Massimo Mondazzi took over in December 2012.
- "eni spa (ENI:BrsaItaliana)". Eni. Retrieved 14 November 2013.
- "Summary for Eni SpA". Retrieved 2013-08-14.
- "Corporate Governance and Shareholding Structure Report 2011,as approved by Eni board of directors on March 15, 2012". Retrieved 2012-04-29.
- eni spa
- ENI SPA NYSE
- eni history
- Encyclopædia Britannica
- What does Eni stand for?
- History of the trademark
- What is the significance of the "six-legged dog" in the Eni symbol?
- 1954-Moving around the world. All you need is a formula.
- Society of Petroleum Engineers
- Encyclopædia Britannica Enrico Mattei
- 1957-The Mattei formula, another winning move
- Eni in Egypt
- OIL AGREEMENTS IN IRAN
- Eni, background information
- CEO Paolo Scaroni discusses Eni-Russia relations: past, present and future
- Enrico Mattei takes on the seven sisters cartel
- 1962-A light goes of over the sky of Bascapè
- The mystery of Enrico Mattei
- A brief history of Major Oil Companies in the Gulf Region
- Società Italiana per il Gas pA
- Milestones: 1969-1976, OPEC Oil Embargo 1973-1974
- OPEC states declare oil embargo
- 1973-74 Oil Crisis
- Alegerian gas to Europe:the transmed pipeline and early Spanish gas import projects
- Gas as a Solution to the Oil Crisis and the Algerian Gas Pipeline
- National Oil Corporation-Eni gas company
- The Race for Energy: from 1972 to 1998
- Pipelines or pipe dreams? Lessons from the history of Arab transit pipelines
- Eni in Libya
- The North Sea: Britain/s Fight For High-Energy Growth
- 166 GSM 03 - Energy and environment in the Mediterranean
- Trans-Mediterranean Pipeline
- Pipelines in the Middle East and North Africa
- Trans-Mediterranean Natural Gas Pipeline, Algeria
- ENI (Agip) Bouri
- Libya gas export project sets records
- 1978 - Houston, we have a contract
- Share Capital Evolution
- Eni, Company Description
- 1992 – A private affair, at the service of everyone
- Eni signs agreements on industrial relations and green economy
- Ente Nazionale Idrocarburi (ENI) S.P.A.
- Eni SpA
- 1995 – The stock exchange listing!
- European oil Who will run Eni?
- The History of Privatization
- ITALY'S STATE OWNED ENI STRUGGLES TOWARD PRIVATIZATION
- Association of European Businesses- Eni SpA
- The Top 10 Oil & Gas Companies
- The Race for Energy: from 1998 to 2009
- Mergers and restructuring in the world oil industry
- About Kashagan
- 2001 Conquering Kashagan
- Kashagan Offshore Oilfield Project, Kazakhstan
- Blue Stream
- Blue Stream Pipeline
- Eni, Blue Stream project
- Eni and Gazprom sign the agreement for the South Stream Project
- South Stream Gas Pipeline Project
- South Stream Pipeline
- "Letter to Eni CEO". Knight Vinke Asset Management. Retrieved 23 January 2010.
- Eni achieves key production milestone in the Zubair field, in Iraq
- Eni Signing Begins Spate of Iraqi Oil Agreements
- JPT,Company News Mergers and Acquisitions
- Eni in Mozambique
- Mozambique: Galp Energia and Eni to drill offshore Mozambique in September
- Italian group ENI finds more natural gas in Mozambique
- The Eni Presence
- Mamba Proved East Africa Potential is Real
- Eni increases the Mamba South gas discovery in Mozambique by 50%
- Mamba South/North
- Eni discovers gas at Mamba South offshore Mozambique
- Italy's ENI claims giant gas discovery in Mozambique
- Eni: new giant gas discovery in the offshore Mozambique
- $50 billion estimated to develop giant Mamba gas field
- Eni Discovers Gas at Mamba North East 2 in Mozambique
- Eni adds Paleocene pay, 10+ tcf off Mozambique
- Eni announces Mozambique gas discovery
- Mozambique: Eni makes new natural gas discovery in the region
- Eni: important new discovery in Mozambique
- ENI STRIKES ‘GIANT’ NATURAL GAS FIELD AT CORAL PROSPECT
- Eni announces major new gas discovery offshore Mozambique
- Eni Makes a Major Gas Discovery
- Eni finds oil and gas offshore DR Congo, Africa: Oil Review Africa, 2014
- Exploration & Production
- Eni Makes Big Oil Find in Africa Amid New Sub-Saharan Success
- Eni Makes Significant Oil & Gas Discovery Offshore Congo
- Eni: First important oil discovery in OTCP Block offshore Ghana
- Eni Discovers Significant Hydrocarbon Offshore Congo
- Eni announces first production from Junin-5 oil field in Venezuela
- Oil Production Kicks Off At Junin-5 In Venezuela
- Eni awarded new exploration licenses in the Barents Sea
- Eni gets exploration licenses in Barents Sea, offshore Norway
- Eni SpA ADR E Q4 2011 Earnings Call Transcript
- Eni's CEO Hosts 2012-2015 Strategy Presentation Call
- Kazakhstan: Eni sees Kashagan to produce 75,000 barrels a day in first month
- Eni Releases 2013-2016 Strategic Plan
- Eni: awarded East Sepinggan block in Indonesia
- Eni sees 4%/year output rise through 2016
- Oil and gas production
- Exploration and Development
- Annual report 2012
- Gas & Power
- Previous Year's Results
- History and development of the Company
- Sannazzaro Refinery, Italy
- Eni SpA
- Power Generation
- Power Annual Report
- Sales of natural gas
- Eni Enters Belgium Under Own Brand
- Eni to retail gas in France Under Own Brand
- Eni Acquires Belgian Gas Company
- "Gas & Power". Eni. 2011-11-29. Retrieved 2012-06-08.
- Refining & Marketing
- The Italian Gas Market: Challenges and Opportunities
- Marketing of refined products
- 10 October 2012 - Eni will sell gas on the French retail market under its own brand
- Eni enters the retail natural gas market in France
- 19 October 2012 - Eni will operate on the Belgian retail market under its own brand
- Eni announces results for the third quarter and the nine months of 2012
- Petrol World
- "Engineering & Construction". Eni. Retrieved 2012-06-08.
- "Eni and ZEiTECS Install Eni Congo’s First Rigless Retrievable ESP System". BrightWire.
- "Eni starts production at the Blane oil field offshore UK". Milan: Eni. 2007-09-12. Retrieved 2010-04-19.
- "ENI India to start drilling in Q2 of 2011". Kolkata: The Economic Times. 2010-10-26. Retrieved 2010-10-26.
- The Putin and Pals Project. Kommersant. Dec. 24, 2005
- EU hits Italian energy group ENI with antitrust charges
- "Uganda names bribes-claim minister new PM". Reuters. 2011-05-24.
- Bond Market Debut for New Eni CFO Mondazzi CFO Insight Magazine, January 2013
- 13 September 2012, Eni confirmed in the Dow Jones Sustainability World Index
- Sustainability Index, Annual review 2012
- Eni SpA : Eni confirmed in Dow Jones Sustainability World Index
- Eni confirmed in Dow Jones Sustainability World Index
- 17 September 2012 – Eni confirmed in the FTSE4Good Index
- Country classificationin FTSE Global benchmarks
- Eni SpA : Eni confirmed in the FTSE4Good Index
- 12 September 2012 – Eni enters Cdp's Carbon Performance Leadership Index (CPLI)
- CDP climate performance scores
- STOCK EXCHANGE: STANDARD ETHICS, ENI IS THE ONLY COMPANY IN THE FTSE MIB WITH A TRIPLE E
- Climate Change
- Fact Book 2012
- (en) Marcello Boldrini, Mattei, Rome, Colombo, 1969
- (it) Marcello Colitti, Energia e sviluppo in Italia, Bari, De Donato, 1979
- (en) Paul H. Frankel, Oil and Power Policy, New York - Washington, Praeger, 1966
- (en) Pier Paolo Pasolini, Petrolio, various
- (it) Nico Perrone, Enrico Mattei, Bologna, Il mulino, 2001 ISBN 88-15-07913-0