(MEBG) - Italy’s Ente Nazionale Idrocarburi (ENI) is a fully integrated energy company that is considered among the top 10 energy companies in the world. It was founded in 1953 by the Italian government. However, since 1995 the Italian government has gradually reduced its shareholding, and controls only 36 percent holding share, 64 percent are in privet hands.
Today, the company conducts operations in more than 70 countries, and employs more than 80,000 people. As an energy producer, it is considered the world’s seventh largest in terms of reserves, the eighth largest in terms of production, the second largest in Europe in domestic gas sales, the fourth largest in Europe in total refining capacity, and a leader in the European petrochemicals industry
ENI manages its global operation through its various divisions. Via Agip and Snam, it operates in the oil and gas field; via Enichem in petrochemicals., and via Saipem And Snamprogetti in services and engineering
The company is a major player in the Middle East, where its proven reserves in 1999 stood at about 5.5 billion barrels of oil equivalent, and its production was 1.35 million barrels a day. The company sells about 60 billion cubic gas meters per annum.
In the Middle East, ENI is active in Algeria(*** Link to file: Jul28-(DS)(oil-feature)(company profile-eni)-algeria***), Tunisia(*** Link to file: Jul28-(DS)(oil-feature)(company profile-eni)-tunisia***), Libya(*** Link to file: Jul28-(DS)(oil-feature)(company profile-eni)-libya***), Egypt, Saudi Arabia(*** Link to file: Jul28-(DS)(oil-feature)(company profile-eni)-Saudi***), Sudan(*** Link to file: Jul28-(DS)(oil-feature)(company profile-eni)-sudan***), Qatar(*** Link to file: Jul28-(DS)(oil-feature)(company profile-eni)-qatar***), Kuwait(*** Link to file: Jul28-(DS)(oil-feature)(company profile-eni)-kuwait***), Oman(*** Link to file: Jul28-(DS)(oil-feature)(company profile-eni)-oman***), Iran(*** Link to file: Jul28-(DS)(oil-feature)(company profile-eni)-iran***)United Arab Emirates (*** Link to file: Jul28-(DS)(oil-feature)(company profile-eni)-UAE***) and Yemen(*** Link to file: Jul28-(DS)(oil-feature)(company profile-eni)-yemen***).
By 2003,the company plans to raise production to 1.5 million bpd. This will be possibly because of several factors, including new discoveries in Libya and Egypt; the reevaluation of existing fields, most notably Qatar’s Alkalij field and Egypt’s Belayim and Port Fouad fields; and acquisitions of and mergers with major oil and gas companies around the world.
During 1999 and 2000, ENI planned on spending $20.33 billion in ts overall operation, with about 75 percent of that earmarked for exploration and production in oil and natural gas sector various activities. Gas in general is taking up an ever larger portion of the company’s attention. As ENI CEO, Vittorio Mincato , said: “[W]e are studying other operations which should concern the whole Asian continent and which will lead to developments, naturally long-term ones, but which will allow ENI to become a big international gas operator.”
