ENI S.p.A. · MIL:ENI

ENI — UBS Global Oil & Gas Conference 2009

15 slides from ENI's conference presentation, Sep 23, 2009

  1. Slide 1: UBS Global Oil & Gas Conference 2009

    UBS global oil & gas conference 2009 september 23rd, 2009 www.eni.it

  2. Slide 2: Disclaimer

    Disclaimer This presentation contains forward-looking statements regarding future events and the future results of Eni that are based on current expectations, estimates, forecasts, and projections about the industries in which Eni operates and the beliefs and assumptions of the management of Eni. In

  3. Slide 3: Eni's strategy: unchanged direction

    eni’s strategy: unchanged direction Solid Capital Structure Operational Efficiency Delivering industry-leading growth across all sectors Preserving resilient and sustainable long-term value 3

  4. Slide 4: Eni: ideally positioned to cope with industry challenges

    eni: ideally positioned to cope with industry challenges Leading lifting costs of 7.5 $/bl Adjusted net profit E&P Low-cost portfolio Top producer 1H09/1H08 Leading Player Total eni 72.5 97.0 65.1 54.4 28.8 38.2 XOM 25.0 G&P 3.9 4.1 BP 3.4 3.7 3.4 3.5 3.5 Resilient cash generation RDS 2002 2003 2004

  5. Slide 5: E&P: sustainable growth

    E&P: sustainable growth Production (kboe/d) 1,797 1,737 1,770 1,736 1,472 1,562 1,624  Large player in fastest 1,369 growing areas 1,187  Strong presence in giant projects 2000 2001 2002 2003 2004 2005 2006 2007 2008  Focus on three core regions Top producer 85% of new Leading Player production b

  6. Slide 6: Efficiency and cash generation

    efficiency and cash generation Lifting cost $/boe E&P Cash flow $/boe 15 30 25 26.6 10 22.8 20 6.6 18.8 5 5.3 5.8 15 0 10 2004-2006 2005-2007 2006-2008 2004-2006 2005-2007 2006-2008 eni Benchmark Group* * ExxonMobil, BP, Shell, Chevron, ConocoPhillips, Total (based on company reports); eni included

  7. Slide 7: Robust future cash generation

    robust future cash generation Discounted net future cash flow* $/boe 13.0 -52% 9.6 -59% 6.3 3.9 eni Peers 2007 2008 2007 @ 96 $/boe; 2008 @ 36.5 $/boe Peers: BP, Chevron, ConocoPhillips, eni, ExxonMobil, Shell, Total *Source: disclosure SEC according to SFAS 69 7

  8. Slide 8: Growing exposure to giant projects

    growing exposure to giant projects Giant Projects Equity Production kboe/d Operated 69% 73% 79% production ~1,080 ~930 859 2008 2012 2014 Producing Start-ups & growth Present in 37 giant projects (>0.5 bln boe), of which 18 operated Source: Goldman Sachs “top 190 projects” and Eni elaboration 8

  9. Slide 9: Resilient portfolio: highly profitable growth

    resilient portfolio: highly profitable growth Breakeven* of New Production 70 60 50 Breakeven ($/bl) 40 30 20 10 0 100 200 300 400 525 New production (kboe/d) * @ WACC adjusted for country risk 9

  10. Slide 10: 2009-2010 main start-ups

    2009-2010 main start-ups OECD 8 start-ups Africa 9 start-ups 2009 2010 Project start-ups Op. Peak Project start-ups Op. Peak boe/d boe/d 100% 100% Abo phase 2 √ 14,000 Rom Integrated √ 20,000 M’Boundi water inj. √ 35,000 Maamoura √ 7,000 Blacktip √ 14,000 M'Boundi Gas to IPP √ 22,000 Longhorn √ 29,0

  11. Slide 11: Strengthening E&P resource base

    strengthening E&P resource base NORWAY Main discoveries New acreage Victoria South 3 Blocks CHINA LIBYA US (GoM & Onshore) 2 Blocks Heidelberg A1-16/4 Longhorn Deep PAKISTAN J.V. with Quicksilver TUNISIA in unconventional Miano 12 gas shales Badhro Jabal 1 EB-407 EGYPT INDONESIA Satis 2 Nardine 1 Ja

  12. Slide 12: G&P: resilient results

    G&P: resilient results 2008 EBITDA pro-forma adj.*  Strengthen our 21% 4.5 bln € leading market share in Europe  Enhance flexibility leveraging on Distrigas ~50% acquisition  Preserve the leading position in the Italian gas market  Unlock the value of Regulated International regulated business b

  13. Slide 13: R&M: improve profitability

    R&M: improve profitability  Selective upgrade in refining with focused capex  Market share growth in Italy  Enhanced operational efficiency Free cash flow positive by 2010 13

  14. Slide 14: Disciplined capex to fuel growth

    disciplined capex to fuel growth Bln € 49.8 (1.0) 48.8 Others 1.0 Saipem 4.7 3.9 1.0 32% R&M 4.1 2.8 54% G&P 6.5 7.0 Stogit 1.8 1.5 E&P 31.7 32.6 14% Regulated PSA Other 2008-2011 Variation 2009-2012 Capex plan Capex plan Attractive capex programme 14

  15. Slide 15: Committed to organic growth

    committed to organic growth  Strong capital position and credit rating  Attractive capex program  Robust returns to shareholders Preserving resilient and sustainable long-term value in uncertain scenario

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