The management right of Eni Group in Italy

Concentrate advantages to develop core business and maintain competitive advantage.

As one of the largest oil companies in the world, Eni attaches great importance to the expansion of upstream business and its investment continues to tilt.

1996 Investment increased by 16% over the previous year. 90% of the investment is in oil and gas. The main investment projects include: offshore oil field development in the North Sea, Egypt, Congo and Adriatic Sea, and exploration of potential areas in Italy and abroad; Extend the pipelines and transmission networks for transporting natural gas. The goal is to achieve an annual output of more than 60 million tons of oil equivalent by the beginning of the next century, so as to keep the ratio of its reserves to output in balance with its main competitors. Mainly produce marketable products in the market, maintain the existing market and develop foreign markets.

In order to improve the quality of refined oil, the refinery added a hydrocracking unit and reformed the diesel desulfurization unit to improve the refining process, optimize the product structure of lubricating oil, and develop fuels and new asphalt with little environmental impact. At the same time, realize sales networking, establish targeted facilities for specific users, and reduce wholesale sales costs. Consolidate the company's market position in Germany, Austria, Spain and Switzerland, and develop markets in Hungary, Czech Republic and Poland.

Organizational structure adjustment

The Audit Committee appointed by the Chairman is responsible for supervising the management of the Group.

Streamline the group organization, including reducing a certain number of companies.

Reduce the number of directors, formulate appointment standards, appoint experts trained by ourselves, and make maximum use of existing talent resources.

Reduce the cost and improve the main yield and investment benefit.

In the face of the crisis and competition in the international market, Eni Group is further streamlining its organization, reducing redundant staff and production costs, and concentrating its funds on its core business with obvious international competitive advantages in order to better enter the new century.