ENI Announces the Results for the First Quarter of 2013

Source Press Release
Company ENI S.p.A.CNPC 
Tags Upstream Activities, Strategy - Corporate, Financial & Operating Data
Date April 24, 2013

Financial Highlights 2

  • Adjusted operating profit: €3.79 billion, down 36% excluding Snam contribution to the first quarter of  20123;
  • Adjusted net profit: €1.43 billion, down 39% excluding Snam contribution to the first quarter of 20123;
  • Cash flow: €2.80 billion;
  • Leverage: down to 0.24.

Operational Highlights

    • Oil and natural gas production: down 4.9% to 1.6 mmboe/d affected by one-offs in Nigeria, Libya and the UK;
    • Natural gas sales: down 1.3% to 30.2 billion cubic meters due to the disposal of Galp;
    • Signed an agreement with CNPC to sell 28.57% of the share capital of Eni East Africa, which currently owns a 70% interest in Area 4 in Mozambique, at the agreed price of $4.21 billion in cash; access to a promising shale gas block in China;
    • Acquired exploration licences in areas of  high potential in Timor Leste, Cyprus, Egypt and the Gulf of Mexico;
    • Versalis entered partnership agreements with Genomatica, Pirelli and Yulex targeting continuing expansion in the bio-technologies and the bio-rubber segment.
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