ENI has received a net profit of $10.42 billion for the year ended December 31, 2012 and $2.03 billion for the fourth quarter.
The company’s operational profit climbed to $26.42 billion for the year, a 14.6% increase from the year ended December 31, 2011.
ENI saw a record amount of discovered resources in 2012 at 3.64 bboe, proven reserves are now at an eight-year record with 7.17 bboe and the company is producing oil and natural gas at a rate of 1.701 million bpd, up 7% from 2011.
“2012 was a record year for exploration at Eni with discovered resources about six times yearly production thanks to our outstanding achievements in Mozambique and our other successes in West Africa, in the Barents Sea and in Indonesia. We have also made significant progress in developing projects, further increasing our reserves to best ever levels,” said Paolo Scaroni, chief executive officer of ENI.
“Production growth has delivered excellent operating profits at our Exploration and Production division. In Gas & Power and Refining & Marketing we have realized significant efficiency improvements that have allowed us to absorb most of the effects of the still difficult European scenario. Thanks to Eni’s capital structure, which has also been strengthened by the disposals of Snam and Galp, the company will achieve industry-leading upstream growth rates,” he added.
