Eni announces results for the third quarter and the nine months of 2010

Ноября 02, 2010

Paolo Scaroni, Chief Executive Officer, commented: "In the third quarter, Eni has achieved excellent results against a backdrop of ongoing challenging conditions in the gas market".

"We have moved forward in developing the giant Zubair oilfield in Iraq, and have delivered significant discoveries in Angola, Venezuela and in the North Sea as well as access to the Democratic Republic of Congo and Togo, two new countries with high mineral potential. We continue to invest for future growth in particular in E&P. I am confident that the 2010 full year results will show a marked improvement on last year."

Financial Highlights
    * Adjusted operating profit: €4.11 billion in the quarter (up 31.7%); €12.57 billion in the first nine months (up 33.4%).
    * Adjusted net profit: €1.70 billion in the quarter (up 47.5%); €5.15 billion in the first nine months (up 35%).
    * Net profit: €1.72 billion in the quarter (up 39%); €5.77 billion in the first nine months (up 45.1%).
    * Cash flow: €2.41 billion in the quarter; €11.55 billion in the first nine months.

Operational Highlights
    * Oil and natural gas production: 1.705 million barrels per day in the quarter, unchanged from 2009 on a comparable basis2 (up 0.7% in the first nine months).
    * Natural gas sales: down 17.4% to 18.60 billion cubic meters in the quarter (down 9.3% in the first nine months).
    * Achieved project milestones at the giant Zubair field in Iraq with first production expected to be reported in the next quarter. Started production at 8 fields out of the 12 planned for the year.
    * Important exploration successes achieved in Venezuela, Angola and the UK.
    * Awarded licences in new high potential areas (Democratic Republic of Congo and Togo).