Eni s outstanding exploration success over the past decade has differentiated the company from the rest of the Majors. The giant 2015 Zohr discovery in Egypt has in particular been a game changer. Sanctioned in 2016 one of the very few projects globally to receive FID Zohr will drive outperformance on post 2020 production growth metrics. Finances are also in good shape. Recent asset disposals have helped bring down gearing down to one of the lowest levels in the peer group.