This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Eni's CEO Hosts 2012-2015 Strategy Presentation Call (Transcript)

Stocks in this article: E

Of the key reason why ENI is stronger now than a year ago is the success of our restorations in Norway, West Africa and Mozambique, which will drive our strong growth to 2021 and beyond.

Turning now to our medium downstream businesses, over the last year, we have taken further steps to increase our competitiveness in what remains a challenging market contest. In gas and power, we’ve concluded contra-renegotiations with two of our main suppliers, Sonatrach and Gazprom. We re-leverage on our improved cost and flexibility to continue to build out European market to print. A strategy which will position us well to recover profitability as the market tightens.

In R&M and chemicals will further stream-lined our operations and have targeted additional cost savings and optimizations in each business. In chemicals in particular, we’re also targeting a number of initiatives, which will significantly improve our competitiveness.

Let me now take you through our strategy and targets in more detail. In E&P, our consistent track record of exploration success over the past year is the key driver of our growth. While 2011 has been an extraordinary year in terms of the size and potential on our new discoveries, it is not an outlier in terms of results. Over the past four years, we have discovered around 4 billion BOE of new resources almost double our cumulative production of 2.5 billion BOE with the progressive strengthening of our resource base to 32 billion BOE.

Meanwhile with unit exploration cost of around $1.7 per barrel over the past four years, our exploration success supports our capacity to deliver sustainable returns on new projects and our almost ENI oil price scenario, and then IRR in excess of 20% at our planned scenario of $90 for 2012 and 2013 and 85 thereafter.

Our consistence performance confirms the effectiveness of our exploration strategy with this focus on proven basis and a select number of high potential frontier teams. Building on the success over the next four years, we will increase our exploration efforts to further strengthen the basis of our long-term growth.

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs