The search for and production of hydrocarbons
Daily hydrocarbon production amounted to 1,624,000 boe increasing by 62,000
boe over 2003 (up 4%).
As at 31 December 2004 proved reserves of hydrocarbons totalled 7.2 billion
boe, with a residual life of 12.1 years. The main objectives are further increase
in hydrocarbon daily production to 2 million boe in 2008 with an annual average
growth rate higher than 5%, one of the most ambitious in this industry.
The supply, transport, distribution and marketing of natural
gas; production and sale of electricity
Sales of natural gas, including own consumption and Eni’s share of sales
of affiliates, reached 84.5 billion cubic meters (up 7.8% over 2003). In 2004
a total of 1.3 giga watt were installed, thus increasing Eni’s installed
capacity to 3.3 giga watt at year end.
The refining and marketing of petroleum
products
At December 31, 2004, Eni’s retail distribution network in Italy consisted
of 7,244 service stations (49% of these owned by Eni). In Italy Eni sold approximately
13.8 billion litres. With over 4.4 billion litres, sales in the rest of Europe
increased by over 15% thanks to the selective growth strategy pursued.
Oilfield Services, Construction and
Engineering
World leader in the installation of offshore platforms, deep water drilling
and the laying of underwater pipelines. Thanks to the possession of leading-edge
technologies in the treatment and transport of hydrocarbons and the valorisation
of gas and heavy crudes, Eni is one of the world’s leading operators
in the construction of plant for the oil and petrochemical industries.
Petrochemical
Eni’s petrochemical activities Eni are integrated with its refining
activities and are concentrated in Italy and Europe. In 2004 sales of
petrochemical products came to 5.3 million tonnes.
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Strategie
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Develop
core business activities; in particular:
maintain strong hydrocarbon production
growth by internal lines while continuing
portfolio rationalization and focusing
on reserve replacement.
Expand sales on European markets and maintain sale levels in Italy, leveraging
on the increase in demand and the expansion of power generation capacity; complete
the restructuring of the Italian fuel distribution network and develop in selected
areas in Europe; increase the efficiency and flexibility of the refining system.
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| Pursue
the integration of core activities in order
to support Eni’s international growth
and improve its competitive position
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Continue
to focus on core business. |
Intensify
efficiency and efficacy improvement programs.
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Maximize
return for shareholders by selecting capital
expenditure and maintaining strict financial
discipline. |
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