Eni’s Exploration & Production business boasts a strong competitive position in a number of strategic oil and gas basins in the world, namely the Caspian Region, North and West Africa, Venezuela and Iraq.
Eni’s strategy is to deliver organic production growth with increasing returns over the medium to long-term leveraging on a high-quality portfolio of assets with ample exposure to highly competitive giant projects, a strong projects pipeline, and long-standing relationships with key host Countries. We intend to drive higher returns in our upstream operations by reducing the time to market of our projects, tightly controlling operating costs, and deploying our technologies and competencies to manage technical risks. We plan to increase total volumes of operated production, as operatorship will support achievement of those objectives. Consistent with the long-term nature of the business, strategic guidelines for our Exploration & Production Division have remained basically unchanged in the years, as follows:

- Maintain strong profitable production growth
- Ensure medium to long-term business sustainability focusing on reserve replacement
- Develop new projects to fuel future growth
- Consolidate the industry-leading position on costs

In order to carry out these strategies, Eni intends to invest approximately €39.1 billion over the next four years. Development activities and exploration projects will account for approximately € 33.7 and €3.6 billion, respectively. Approximately €1.8 billion will be spent to build transport infrastructures and LNG projects through equity-accounted entities.