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In 2011 the Exploration & Production Division reported an excellent performance amounting to €6,866 million of adjusted net profit (up 22.6% from 2010), reflecting higher oil prices and the rapid recovery of Libyan output. Return on average capital employed calculated on an adjusted basis was 17.2% in 2011 (16% in 2010).

In the year oil spills from accidents declined by 23% from 2010, due to significant prevention activities undertaken.

Activity Areas

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Main data

1,581 kboe/d
Production of hydrocarbons

7,086 mmboe
Estimated net proved reserves of hydrocarbons

0.41
(No. of accidents per million hours worked)
Employees injury frequency rate

2,930 bbl
Oil spills

    2007 2008 2009 2010 2011
Employees injury frequency rate (No. of accidents per million hours worked) 0.57 0.84 0.49 0.72 0.41
Contractors injury frequency rate   0.92 0.93 0.59 0.48 0.41
Fatality index (No. of fatalities per 100 million hours worked) 2.34 3.54 1.77 7.90 1.83
Net sales from operations(a) (€ million) 26,920 33,042 23,801 29,497 29,121
Operating profit   13,433 16,239 9,120 13,866 15,887
Adjusted operating profit   13,770 17,222 9,484 13,884 16,077
Adjusted net profit   6,328 7,900 3,878 5,600 6,866
Capital expenditure   6,480 9,281 9,486 9,690 9,435
Adjusted capital employed, net at year end   23,826 30,362 32,455 37,646 42,024
Adjusted ROACE (%) 30.4 29.2 12.3 16.0 17.2
Profit per boe(b) ($/boe) 14.19 16.00 8.14 11.91 16.98
Opex per boe(b)   4.99 5.45 5.77 6.14 7.28
Cash Flow per boe   25.79 32.25 23.70 25.52 31.65
Finding & Development cost(c)   43.44 28.79 28.90 19.32 18.82
Average hydrocarbons realizations(d)   53.17 68.13 46.90 55.60 72.26
Production of hydrocarbons(d) (kboe/d) 1,736 1,797 1,769 1,815 1,581
Estimated net proved reserves of hydrocarbons(d) (mmboe) 6,370 6,600 6,571 6,843 7,086
Reserves life index(d) (years) 10.0 10.0 10.2 10.3 12.3
All sources reserves replacement ratio(d) (%) 90 135 96 125 142
Employees at year end (units) 8,376 10,236 10,271 10,276 10,425
of which: outside Italy   4,446 6,182 6,388 6,370 6,628
Oil spills (bbl) 6,729 4,738 6,259 3,820 2,930
Oil spills from sabotage and terrorism   2,608 2,286 15,288 18,695 6,127
Produced water re-injected (%) 30 28 39 44 43
Direct GHG emissions (mmtonnes CO2eq) 36.31 33.21 29.73 31.20 23.59
of which: from flaring   20.07 16.54 13.84 13.83 9.55
Community investment (€ million) 59 65 67 72 62
  1. Before elimination of intragroup sales.
  2. Consolidated subsidiaries.
  3. Three-year average.
  4. Includes Eni’s share of equity-accounted entities.

www.eni.com

  • Eni S.p.a. – Registered head office
    Piazzale Enrico Mattei, 1 00144 Roma

  • Vat number
    n. 00905811006

  • Company share capital
    € 4.005.358.876,00 paid up

  • Rome Company Register
    n. 00484960588

  • Branches
    Via Emilia, 1, e Piazza Ezio Vanoni, 1
    20097 – San Donato
    Milanese (MI)