Eni S.p.a. · MIL:ENI

Eni — Borsa Italiana-Nomura Italian Investor Conference 2010

12 slides from Eni's conference presentation, Oct 8, 2010

  1. Slide 1: Borsa Italiana-Nomura Conference Tokyo

    Borsa Italiana-Nomura Conference Tokyo October 8, 2010 eni.com

  2. Slide 2: eni in the world

    eni in the world Exploration & Gas & Power Refining & Production Marketing Saipem Snam Rete Gas Polimeri Europa Syndial 31 Dec 2009 Capital Employed €73 bn end 2009 Employees 78,400 E&P 44% Net sales €83 bn G&P 34% Divisions Operating Profit €12 bn R&M 11% E&C 9% Subsidiaries Net Profit €5.3 bn Pet

  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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