The last three years have been transformational for Eni. It has become a more integrated oil and gas company with long-term production growth, a re-structured mid- and downstream-sector, and an improved cost base. It has successfully built a high-margin portfolio of long-life upstream projects. This has been possible because it has achieved outstanding exploration success over the last three years, and over the past decade as a whole has added 15 bnboe of conventional new resource organically. World-class exploration success in Mozambique, the eastern Mediterranean and West Africa has strengthened long-term production, and delivered a conventional reserves replacement performance second to none amongst the Majors. Eni will continue with its successful strategy of targeting material, conventional prospects with quick development times and low breakevens, near to existing fields in core areas. The frontier plays that will be explored will still be close to existing markets.
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Affected by supply and demand, the economy of individual countries and technological breakthroughs, oil and gas exploration is an industry in constant motion. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.
This Exploration Summary report quantifies the company's exploration volume and value performance over the past 10 years, and reviews its outlook for future success.
Businesses can use this report to get a detailed analysis of this company, what exploration areas they're involved in, what wells to watch and how well placed they are. It will help you understand company performance and shows how the best explorers have achieved their success.
Wood Mackenzie benchmarks exploration results for over 40 companies. Our analysts provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies. We are the established global industry standard for oil and gas exploration performance.
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Company report | Aug 2017
Eni oil and gas exploration summary
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