H1 2016 results 29 July 2016 www.eni.com H1 highlights production - - PowerPoint PPT Presentation

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H1 2016 results 29 July 2016 www.eni.com H1 highlights production - - PowerPoint PPT Presentation

Mar 05, 2024 280 likes •383 views

H1 2016 results 29 July 2016 www.eni.com H1 highlights production +0.5% vs 1H2015 Upstream EBIT of ~500 million with oil < 40 $/bbl discovered resources 550 million boe Mid - refining breakeven at 4.5 $/bbl chemicals

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SLIDE 1

www.eni.com

29 July 2016

H1 2016 results

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SLIDE 2

H1 highlights

2

  • production +0.5% vs 1H2015
  • EBIT of ~500 million € with oil < 40 $/bbl
  • discovered resources 550 million boe
  • refining breakeven at 4.5 $/bbl
  • chemicals strong performance
  • G&P turnaround progressing
  • capex reduction in line with guidance
  • pex -6% vs 1H2015

Upstream Mid - Downstream Costs

All segments positive in a weak scenario

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SLIDE 3

3

e&p growth

Full-year production guidance confirmed

Goliat at plateau achieved > 100 kboed Nooros fast track reached > 70 kboed Val d’Agri restart expected in August 2016 Kashagan start-up by October 2016

  • il & gas production | kboed

1,726

46

1,734

Val d'Agri + Nigeria

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SLIDE 4

e&p exploration and focus on the Great Nooros area

4

2016 target

H1 Discovered | Mln boe 400 550 UEC | $/boe >2 <1

H1 main discoveries

Zohr 2-3-4 Nidoco wells Baltim SW1

GAS

near field exploration phased approach short time to market

Nooros fast ramp-up

July 2015 Sept 2015 July 2016 Oct 2016 70 kboed 130 kboed

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SLIDE 5

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H1 capex and FY guidance 2017 production growth > 5%

capex | bln €

  • 20%

GOLIAT Norway KASHAGAN Kazakhstan JANGKRIK Indonesia ZOHR Egypt OCTP Ghana EAST HUB Angola Oct NENE Ph2A Congo Nov NIDOCO Ph2 Egypt Oct

2016 main start ups

H1 4.9

2017

1Q 2Q 2Q 4Q

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SLIDE 6

H1 economic performance

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Constant scenario: oil price, FX and refining margins

+€1 billion from performance

3.1

  • 2.8
  • 0.5

+1.0

0.8

mkt scenario growth and efficiency

  • ne offs

EBIT adj | bln €

Val d’Agri + G&P net delta retroactive effects

Benchmark prices and margins, YoY Oil

  • 31%

Gas

  • 37%

SERM

  • 32%*

* Delta vs SERM (hedged) 2015

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SLIDE 7

H1 cash generation

7

capex covered by cash flow at 50 $/bbl

cumulative CFFO | 2016 CFFO and CAPEX | 2016

H1 3.1 H1 4.9

1.4 3.1

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SLIDE 8

2016 business targets

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breakeven confirmed at 4.5 $/bbl positive FCF and EBIT exploration target raised to 600 Mboe production confirmed at 1,760 kboed positive FCF and EBIT production growth >5% in 2017 structural breakeven from 2017 positive FCF; negative EBIT

Interim dividend at 0.40 € per share

e&p g&p

r&m refining chemicals