www.eni.it

eni’s Activities

SEAAOC

August 2014

2

Agenda

eni – new ceo, new organisation

e&p overview

Activity in Australia and Timor-Leste

Conclusion

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Market capitalisation eni vs. peers

Market Cap* US$ Billion

412

240215

154 149

8679

XOM RDS CVX BP TOT eni COP

*Data at February 21, 2014; Source: Reuters

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conventional assets in proven basins frontier exploration in emerging basins

Arctic Norwegian, Russian Barents

Sea, East Greenland

GoM

Caspian and Black Sea

Cyprus Levantine Basin

Egypt nearfield

West Africa proven Nigeria offshore, Angola 15/06

West Africa frontier Pre-salt play: Congo, Angola, Gabon

Congo nearfield

East Africa Mozambique Area 4

Kenya Ultra Deep Water

Pakistan nearfield

Pacific Indonesia, Australia

Pacific Vietnam, Myanmar, China

exploration targets

Long-term growth drivers: Mozambique

Deepwater Field: 1500–2100 m wd

Multiple 2D/3D seismic surveys

14 exploration and appraisal wells drilled

>85 TCF of gas discoveries through a extremely successful exploration campaign

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Area 4 Location

Area 1 Area 4

Mamba

Coral

Agulha Gas Discoveries Entirely in Area 4

Gas Discoveries Straddling (Area 4)

Gas Discoveries Straddling (Area 1)

Gas discovery well

Mamba-Coral Discovery Area

Exploration & Appraisal Highlights

Initial Development Program

Area 4 straddling resources

10 MTPA with 2 LNG onshore trains (5 MTPA each)

16 subsea wells

Area 4 non-straddling resources

1 Floating LNG (2.5 MTPA) for development of Coral discovery

6 subsea wells

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Focus on Pacific area growth

AUSTRALIA

PNG

INDONESIA

CHINA

TIMOR LESTE

eni assets new acreage

East Seppingham Arguni 1

NT/48-Evans Shoal

Indonesia

Expansion of Jangkrik play

New acreage in successful play

Australia

Evans Shoal No 1 success

China

New blocks

Myanmar

New onshore blocks

Offshore blocks in process of award

Vietnam

Encouraging results

New blocks

Pacific Basin position

JANGKRIK

VIETNAM

BUKAT/BULUNGAN

THAILAND

MYANMAR

MALAYSIA

LAOS

CAMBODIA

4 Licenses

30/27

4 Licenses

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eni Australia

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Operating since 2000

Production equity 30 kboed (2013)

230 employees

25,000 km2 acreage

MAJOR ACTIVITIES

Blacktip - Major NT domestic gas provider

Kitan oil project, Timor Sea

Bayu-Undan/Darwin LNG

Dili office

Yelcherr Gas Plant

Glass Dowr FPSO, Kitan Oil Project

Blacktip Gas field, Offshore Platform

Community social responsibility, Northern Territory

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Thamarrurr Rangers

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eni exploration activities - Northern Australia and Timor-Leste

Next 18 months

Invest ~$170M

Drill 4-5 wells

NT – east coast pipeline: Developing Northern Australia infrastructure

NSW gas supply shortage

forecast from 2016

Infrastructure building

Energy security opportunity

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Opportunity to expand Eni’s Blacktip gas Project

Yelcherr Gas Plant

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Gas Appraisal Project – Evans Shoal

Evans Shoal North 1

Flowed 30 MMscf/day

Contains 8TCF raw gas

Potential LNG Project

Development options: include DLNG

backfill/expansion

Northern Australia region

Evans Shoal 3D reservoir

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Kitan and Exploration projects, Timor Sea

Kitan JPDA 06-105

Kitan 6 confirmed undrained reservoir

Kitan 3 side track to access attic oil

Exploration area JPDA

11-106

Drilling two wells in 2015

Timor-Leste Training to Employment Program (Kitan Project)

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All 14 Timor Graduates secured employment

4 graduates have a contract with Schlumberger

1 graduate contracted by Subsea-Seven and in Singapore now.

1 graduate contracted by General Electric Oil and Gas – in Perth now

1 graduate contracted with ESS catering

7 graduates - working offshore on the Bayu-Undan project

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In summary

eni is a top seven integrated energy company

eni is continuing to expand in the eastern hemisphere

China, Vietnam and Myanmar

eni is well positioned to support Northern Australia growth plans

Yelcherr infrastructure (Blacktip) – expansion opportunities

Evans Shoal gas field confirmed as a simple, significant subsurface structure in 100m of water