Eni S.p.a. · MIL:ENI

Eni — Sanford C. Bernstein Strategic Decisions Conference 2010

12 slides from Eni's conference presentation, Sep 21, 2010

  1. Slide 1: Sanford C. Bernstein Strategic Decisions Conference 2010

    Sanford C. Bernstein Strategic decisions conference 2010 September 21st, 2010 eni.com

  2. Slide 2: Disclaimer

    disclaimer This presentation contains certain statements that are based on management’s beliefs and assumptions, current expectations, estimates and projections that are neither reported financial results nor other historical information (“forward-looking statements”). These forward-looking statemen

  3. Slide 3: eni 2010-2013 strategy

    eni 2010-2013 strategy  E&P: build on enhanced portfolio  More production  More giants  More operatorship  G&P: leverage on European leadership  Grow gas sales  Strengthen market share  Preserve profitability  R&M: limit exposure  Improve cost position  Grow market share in Italy  Upgrad

  4. Slide 4: E&P: more reserves

    E&P: more reserves 2009 2P reserves  Balanced portfolio in:  Legacy areas Africa OECD  Giant fields FSU Other  Conventional plays Unlocking upside from 30 Bboe resources Onshore Deep Offshore Offshore Other conventional 4

  5. Slide 5: More production

    more production Production profile to 2013 (kboed) Depletion 2009-2013 - by play 560 560 kboed kboed Other Other (Arctic, (Arctic, >2.5% from from new new CAGR LNG, LNG, Uncon.) Uncon.) start-ups 6.2% 6.2% start-ups 150 Onshore Onshore Conventional Conventional 1.5% 1.5% Decline ~3% 0% Avg. eni port

  6. Slide 6: More value

    more value Lifting costs PV10 of P1 reserves** $/boe $/boe 16 7.1 6.9 12 5.0 5.0 4.7 4.1 4.0 8 7.2 6.6 5.9 i P l ll il En s on ta 5.3 ob he B ip 4 To vr ill nM S he Ph xo 2004-06 2005-07 2006-08 2007-09 co C Ex o on C eni Benchmark group* $/boe 2009 opex/boe $/boe eni 2P NPV/boe by region OECD OECD

  7. Slide 7: G&P overview

    G&P overview eni markets  Leading European utility with gas sales of over 100 Bcm in 2009  Leader in European transport capacity  Largest regulated business in the Nigeria Italian gas sector Oman Qatar  Installed power capacity of 5.3 GW Pipeline Liquefaction plant Regassification Regassificatio

  8. Slide 8: Leveraging on a resilient business

    leveraging on a resilient business Ebitda pro-forma adj 97.0 Bln € 72.5 65.1 61.7 54.4 5.0  Stable returns in different oil 4.9 4.2 4.4 4.4 price scenarios 3.0 3.1 2.3 2.4  ~50% of Ebitda from 2.5 0.7 0.7 0.8 0.7 infrastructure-based 0.5 1.2 1.2 1.2 1.3 1.3 businesses with low risk profile and goo

  9. Slide 9: Coping with a challenging scenario

    coping with a challenging scenario Gas prices and supply/demand trends $/MMBtu 16 800 14 700 12 600 10 500 8 400 6 300 4 200 2 100 0 0 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Ind

  10. Slide 10: R&M: managing market weakness

    R&M: managing market weakness Refining Marketing  Operational improvement  Growth in European retail  Process Utilization Index: +10 pp market share  Italy +2.5 pp  Selective increase of complexity  Selected European countries  Middle distillate yield: +2 pp  Upgrade marketing network  Flex

  11. Slide 11: Capex 2010-2013: fueling long term growth

    capex 2010-2013: fueling long term growth Bln € 4.0 52.8 1.1 Upstream focus: 70% 48.8 Others 1.0 3.3 Saipem 3.9 2.7  Commitment on giant R&M 2.8 projects: ~50% 8.3 G&P 8.5  Devoted to sustain growth beyond 2013: 35% 37.4 E&P 32.6 2010 guidance  Slight increase vs 2009 due to production optimizati

  12. Slide 12: Cash allocation hierarchy

    cash allocation hierarchy 1 1 Maintain financial discipline 2 2 Fund our capex programme for future growth 3 3 Dividend 12

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