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Eni oil and gas exploration summary

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Report summary

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. Our report provides details of Eni's successful conventional exploration strategy and forward plans.

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Table of contents

  • Executive summary
    • Upstream strategy and exploration outlook
    • Evolution of the exploration strategy
  • Investment and costs
    • Well data
  • Reserves and resources
  • Production
    • Tremendous success in Mozambique has delivered excellent volumes and value
    • Zohr transforms Egyptian gas market and regional exploration
    • West Africa continues to be a core
    • A global deepwater presence
    • Perla a world-class discovery in Venezuela
    • Eni has shifted its focus in Europe to higher value opportunities

Tables and charts

This report includes 23 images and tables including:


  • Basins drilled and major discoveries 2007-2016
  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Production from new field discoveries and organic unconventionals, and as a proportion of all future production
  • Net active exploration acreage by water depth
  • Net active exploration acreage by country
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Full cycle value creation by year (conventional only)
  • Exploration returns by year (conventional only)
  • Value creation by reserve category
  • Value creation by water depth


  • Ten year performance summary
  • Top 40 discoveries (2007 to 2016)
  • Full-cycle economics
  • SWOT Grid
  • Gross exploration & appraisal wells by basin and sector

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