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66-451: Eni is an Italian oil and gas corporation. Eni or ENI may refer to: Eni Eni S.p.A. ( Italian pronunciation: [ˈɛːni] ), acronym for and formerly legally known as Ente nazionale idrocarburi (National Hydrocarbons Board), is an Italian multinational energy company headquartered in Rome . It is considered one of the " supermajor " oil companies in the world, with

132-690: A market capitalization of €50 billion, as of 31 December 2023. The Italian government owns a 30.5% golden share in the company, 1.99% held through the Ministry of Economy and Finance and 28.5% through the Cassa Depositi e Prestiti . The company is a component of the Euro Stoxx 50 stock market index . Through the years after its foundation, it operated in many fields including contracting , nuclear power, energy, mining, chemicals and plastics, refining/extraction and distribution machinery,

198-721: A 4% stake in the shares for the Spanish natural gas distribution company. In 2019, the two companies took over joint control of Medgaz , with Sonatrach holding 51% stake and Naturgy the remaining 49%. Renegotiations of the supply agreement were made in 2020, in order to revise the prices, volume and duration. Hydrocarbons play a crucial role in Algeria's economy, accounting for roughly 60% of budget revenues and over 95% of export earnings. The country ranks fourteenth in petroleum reserves, containing 11.8 billion barrels (1.88 × 10  m ) of proven oil reserves with estimates suggesting that

264-520: A 40% interest in a permit to explore 82,000-km offshore of South Africa's east coast. In 2014, Eni launched a new plan to convert its conventional refineries into biorefineries : the first plant was in Porto Marghera , in 2019 the second one opened in Gela . In January 2015, Eni in collaboration with Vitol Energy signed a $ 7 billion contract with the government of Ghana. This agreement

330-507: A day, which will boost the Thai companies total production volumes and support its growth. In July 2022, Sonatrach and its partners announced a production sharing contract (PSC) which will invest a total of $ 4 billion over the course of 25 years into onshore blocks located in the prolific Berkine basin. The agreement includes 3D seismic acquisitions, converting 46 wells into WAG process wells, as well as drilling an additional 100 oil wells. Over

396-602: A greater operation against embezzlement of public funds in contribution with Lebanese officials. Abdelmoumen Ould Kaddour, who was chief executive of Sonatrach from March 2017 to April 2019, was arrested in February 2021, and in August of that year he was extradited from the United Arab Emirates , all related to his alleged involvement in various corruption cases. In February 2022, ex-energy minister Chakib Khelil

462-702: A joint venture with QatarEnergy for the North Field East (NFE) expansion which will be the worlds largest LNG project and begin production in 2025. Eni holds a 3.125% stake in the four LNG trains estimated to produce 8 million tonnes a year each. In October 2023, QatarEnergy signed LNG supply deal with Italy's Eni for 27 years. Affiliates of QatarEnergy and Eni signed a long-term sale and purchase agreement for up to 1 million tons per year (mtpa) of liquefied natural gas (LNG) from Qatar's North Field expansion project. After 10 years of force majeure, Eni, Sonatrach and BP resumed exploration in their blocks in

528-768: A majority stake in Italgas . In October 1973, after the Yom Kippur War and the OPEC embargo against the United States and the Netherlands by OPEC members and Arab countries, a serious oil crisis occurred, causing Eni to consolidate its position in the international market by signing an agreement with Sonatrach , the Algerian state oil entity for natural gas supply. In 1974, Eni signed an agreement with

594-484: A new MoU was signed between the companies to focus on renewable energy, biofuels and hydrogen sectors. Various other agreements were also signed to cover exploration and production, research and development, decarbonization and training, and to strengthen the two companies' partnership. In April 2022, the CEOs of Sonatrach, Touffik Hakkar, and Eni, Claudio Descalzi , signed a contract to increase gas supplies to Italy through

660-575: A new agreement with Libya for the exploitation of Boùri , the biggest oilfield in the centre of the Mediterranean , and developed its international role within the oil industry. In 1992, Eni became a joint-stock company by Law Decree, and was listed to the Italian and New York Stock Exchange in 1995. From 1995 to 1998, Eni successfully made four share offers, as 70% of its capital assets were sold to private shareholders. As

726-609: A newly established joint venture (JV) between Eni Pakistan local employees and Hub Power Company . In 2018 Eni became the first shareholder of the American company Commonwealth Fusion Systems (CFS), a spin-out of the Massachusetts Institute of Technology (MIT) in Boston . CFS aims to build a fusion reactor based on tokamak technology, much more compact and cheaper compared to other existing projects such as

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792-834: A subsidiary of Eni. The assets in Germany were released before the transaction, and will remain with Neptune, managed by the shareholders as a separate group. In March 2024, Eni made discoveries off the Ivory Coast . In July 2024, new oil and gas was discovered in Block 9 of the Yopaat-1 EXP exploration well located off the shore of Mexico in the Sureste Basin . In July 2024, Vår Energi extended its supply deal with Eni until 2036 for up to 5bcm of natural gas. As exploration and reserve replacement being major drivers for

858-442: A year. A joint venture between Air Algérie (49%) and Sonatrach (51%) in 1998 established the passenger airline company Tassili Airlines . Commercial services were launched on 8 April 1999 with a flight from Hassi Messaoud to Algiers. In 2005, Air Algérie withdrew 50% of its funds in the airline, which thus became 76% owned by Sonatrach. In 2006, Sonatrach gave Tassili Airlines permission to expand its domestic destinations and for

924-690: Is already accounted for in various contracts. However, in April 2022, Hakkar went back on his statement from February, saying that Sonatrach would not be able to be an alternative provider of Russian gas. In March 2022, Sonatrach and Eni made a major discovery of oil and gas in the Zemlet el Arbi concession, as the HDLE-1 well was drilled, one of five to be placed in the Berkine North basin. Eni and Sonatrach signed an agreement in April 2022 to increase

990-469: Is the principal company selling petroleum-based fuels for domestic consumption with about 10,000 gas stations (as of 2005). Naftec, a subsidiary of Sonatrach, operates Algeria's four refineries, which have combined capacity of 450,000 bbl/d (72,000 m /d). The Skikda refinery (300,000 bpd) provides the bulk of Algeria's refined products production. The 30,000 bbl/d (4,800 m /d) Hassi Messaoud refinery supplies products to southern Algeria, while

1056-566: The Mesdar , the seizure of the Stena Impero fulfilled the needs of the government of Iran. In November 2021, Sonatrach announced that it would be carrying out the development of a 10 MWp photovoltaic plant in the basin of Hassi Berkine in order to supply oil sites within the region. Sonatrach signed a US$ 179 million contract on 17 February 2022 with Sinopec from China , to construct an LNG storage tank which will hold 150,000m at

1122-726: The Skikda gas export terminal. With the Russian invasion of Ukraine , Sonatrach CEO Hakkar stated in February 2022, that the company would be willing to supply Europe with more gas, however only the unused capacities in the Trans-Mediterranean Pipeline (Transmed) could be transferred to the European market. The Transmed pipeline which is operated with Eni , has a yearly capacity of approximately 32 billion cubic meters, to which 22 billion cubic meters of exported gas

1188-633: The Trans-Mediterranean Pipeline . Beginning in 2022, supply should increase gradually to 9 billion cubic meters per year in 2023-24. Near the end of 2022, Sonatrach and Eni began producing 10,000 barrels of oil daily at the HDLE/HDLS oil field in the Berkin Basin. The amount of output is to be increased to 17,000 barrels a day with the additional drilling planned in 2023. In June 2018, Naturgy signed an agreement with Sonatrach covering 30% of Spain's natural gas imports by pipeline. Sonatrach holds

1254-827: The desalination of seawater . Notes: 1.EIA 2007. Sonatrach was founded on December 31, 1963. At the time, however, the Algerian state held only 4.5% of the exploration perimeters, while French interests were as high as 67.5%. After the Arab-Israeli War in June 1967, Algeria decided to nationalize the refining and distribution activities of Mobil and Esso , and Sonatrach signed an agreement with Getty Oil on October 19, 1968 receiving 51% of Getty Oil's interests. Sonatrach gained control over all Algerian petrochemical resources following President Houari Boumedienne 's nationalisation of all French oil and gas holdings beginning on February 24, 1971. The old concession system

1320-495: The 60,000 bbl/d (9,500 m /d) Algiers refinery processes crude from Hassi Messaoud for consumption in the capital. Finally, the coastal 60,000 bbl/d (9,500 m /d) Arzew refinery produces products for domestic consumption and export. In July 2006, Sonatrach and the China National Petroleum Corporation (CNPC) brought online the small-13,000 bpd Adrar refinery, which is located near

1386-574: The Algerian domestic market. In 2021, the company's export revenues had increased by 75%, placing turnovers at US$ 35bn for the year compared to the US$ 20bn from the previous year. Vice-president, Rachid Zerdani, stated that the results can be explained by the "recovery of global economic activity in 2021". Production increased to 185 million ToE, resulting in export levels of 95 million ToE. Sonatrach employed over 53,000 employees, as well as more than 150,000 employed in its subsidiaries. Sonatrach operates

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1452-555: The Congo offshore block. Since 2012, Eni has been selling off refining and marketing assets it owned in eastern Europe to increase profitability. By 2013 Eni had already reduced its refining capacity by 13 percent. In May 2014 Eni agreed to sell their 32.5% share in Česká rafinerská a.s. (CRC), a refining company in the Czech Republic, to MOL Group of Hungary. In June 2014, the company signed an agreement with Sasol to acquire

1518-703: The Ghadames Basin (A-B) and offshore Block C in August 2023, continuing their contract obligations. In January 2024, Eni acquired Neptune Energy for $ 4.9 billion. The list of assets includes Neptune’s involvement in the Geng North-1 gas field in Indonesia , as well as projects in Western Europe , Australia and North Africa . Neptune’s business in Norway was purchased directly by Vår Energi ,

1584-626: The HPC4 supercomputer with the new model HPC5 , which has three times the computing ability compared to the previous one. In March 2018, Eni reached an agreement with MIT to fund fusion research projects run out of the MIT Plasma Science and Fusion Center (PSFC)’s newly created Laboratory for Innovation in Fusion Technologies (LIFT). The expected investment in these research projects will amount to about $ 2 million over

1650-477: The Libyan government, followed by additional agreements with Egypt, Nigeria and Tunisia. During the mid-1970s, Eni planned a major infrastructure for transporting natural gas over long distances, by building a pipeline network of thousands of miles throughout Europe and the Mediterranean . After the inauguration of the Trans-Mediterranean Pipeline connecting Algeria to Sicily through Tunisia, Eni signed

1716-538: The Mediterranean Sea and Italy. The delivery started in January 2023 and is expected to run until December 2025. For 2023, Sonatrach announced that they would increase the yearly output to 200 million TOE, which they have not reached since 2010. They also plan to sign new agreements with Eni, which will also include electrical supply. Algeria faced declines in the energy sector for the last decade but due to

1782-720: The Russian invasion of Ukraine and new investment laws, they have recovered in the last year becoming the biggest gas supplier to Italy. Both companies will work together to find ways to increase the transport capacity of the existing gas supplies as well as planning a new pipeline which will transport hydrogen. In addition, undersea electrical cables connecting the two countries are in the planning to increase Algeria's LNG production capacity. A new project in 2023 in Sicily has Sonatrach joining Sasol (SOLJ.J) to produce low carbon hydrogen and syngas . The „Hybla” project will possibly become

1848-443: The accord applied retroactively beginning on November 1, 1987. In March 2005, the Algerian parliament adopted the hydrocarbon reform bill, encouraging international oil company (IOC) investment in the hydrocarbon sector, which Sonatrach previously dominated. However, 2006 amendments to the hydrocarbon bill created a windfall tax on IOC profits when oil prices top $ 30 per barrel. This tax reached up to 50% on some contracts. In addition,

1914-400: The actual amount is even more. The U.S. Energy Information Administration reported that in 2005, Algeria had 160 trillion cubic feet (Tcf) of proven natural gas reserves, the eighth largest in the world. As a result, Sonatrach is very important politically. Most Energy Ministers of Algeria have come from a Sonatrach background. Sonatrach suspended all of its senior management after two of

1980-521: The amendments gave Sonatrach rights to a 51% or higher participation option on each newly discovered project. In June 2018, Naturgy signed an agreement with Sonatrach covering 30% of Spain's natural gas imports by pipeline. Sonatrach holds a 4% stake in the shares for the Spanish natural gas distribution company. In 2019, the two companies took over joint control of the Medgaz pipeline between Algeria and Spain, with Sonatrach holding 51% stake and Naturgy

2046-533: The amount of gas imported to Italy through the TransMed / Enrico Mattei pipeline to up to 9 billion cubic meters per year by 2023/24. It was confirmed in June 2022 from PTT Exploration and Production (PTTEP) that the Hassi Bir Rekaiz had hit first oil, they have 49% stake in the project, where as Sonatrach holds the other 51%. The targeted production rate for the project is 13,000 barrels of crude

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2112-528: The companies agreed to upgrade the facilities already in place and increase production by drilling additional wells. An additional agreement was also signed between the two companies to explore renewable energy projects and develop low carbon energy programmes. After 10 years of force majeure, Sonatrach, Eni and BP resumed exploration in their blocks in the Ghadames Basin (A-B) and offshore Block C in August 2023, continuing their contract obligations. Sonatrach also resumed exploration in blocks 065 and 96/95 in

2178-537: The company's vice-presidents were imprisoned for corruption. Algeria's Energy Minister , Chakib Khelil announced the president of the company and several executives have been placed under judicial supervision. In 2013, Khelil was also accused of receiving a bribe from a subsidiary of the Italian energy company Eni . In May 2020, an arrest warrant was issued against a representative of Sonatrach in Lebanon, as part of

2244-582: The company, Eni boosts for production additions in its core oil field areas (North and Sub-Saharan Africa , Venezuela, Barents Sea , Yamal Peninsula , Kazakhstan, Iraq and the Far East). Eni has about 130 exploration and production subsidiaries, such as Eni Norge. In March 2022 Eni stopped buying Russian oil because of International sanctions during the Russo-Ukrainian War . In 2012, Eni reported liquids and gas production for

2310-542: The controlled fusion of deuterium and tritium possible and thus to produce sustainable energy . In December 2021, ENI become the first energy company in the world to highly invest in magnetic confinement nuclear fusion, through a $ 1.8 billion partnership in CFS, alla Ng with Google and Bill Gates . In 2022, during the Russian invasion of Ukraine , the major oil and gas companies, including Eni, reported sharp rises in interim revenues and profits. The rises are influenced by

2376-755: The country. The most important pipelines carry crude oil from the Hassi Messaoud field to export terminals. Sonatrach also operates oil condensate and LPG pipeline networks that link Hassi R'mel and other fields to Arzew. Sonatrach is expanding the Hassi Messaoud-Azrew pipeline, the longest in the country. The project entails a second, parallel line that will more than double the capacity of the existing line. Sonatrach has some concessions in Libya , Mauritania , Peru , Yemen and Venezuela . The company has also diversified into petrochemistry and

2442-533: The course of the years various opportunity assessments for development will also be carried out. In August 2022, Sonatrach in collaboration with Eni made a new oil discovery at Haasi Illatou in the Adrar province . This discovery comes 28 years after the last discovery of oil in the region. The same month, an EPC contract was acquired by Petrofac for the Tinrhert Development Project,

2508-725: The crude producing countries through the establishment of joint ventures. In 1957, Eni pushed for a similar agreement, known as the "Mattei formula", to be signed with Persian Shah Mohammad Reza Pahlavi and the National Iranian Oil Company . In 1960, during the Cold War period, Eni signed an agreement with the Soviet Union for the importation of Russian crude at low prices. On 27 October 1962, Enrico Mattei's airplane mysteriously exploded near Bascapè , on his way to Milan from Catania . His death

2574-640: The following years. The Rovuma LNG project was approved in May 2019 by the government of Mozambique . The project is a joint venture between ExxonMobil , Eni and CNPC . Eni will focus on the construction and operation of the upstream facilities. In March 2021, Eni exited the Pakistani market and sold its assets to Prime International Oil & Gas Company. The deal include the assets sold, interests in eight development and production leases and four exploration licences. Prime International Oil & Gas Company,

2640-616: The full year of 1,701 thousand barrel of oil equivalent per day (kboe/d), this being calculated assuming a natural gas conversion factor to barrel equivalent, updated to 5,492 cubic feet of gas equal 1 barrel of oil from 1 July 2012. During 2012, 60 new exploratory wells were drilled, as 56 were drilled in 2011 and 47 in 2010. The overall commercial success rate was 40% (40.8% net to Eni) as compared to 42% in 2011 (38.6% net to Eni) and 41% in 2010 (39% net to Eni). In 2012, 351 development wells were drilled as well, as 407 in 2011 and 399 in 2010. In 2019 Eni reported hydrocarbon production for

2706-427: The full year of 1,871 kboe/d. In 2021 Eni reported hydrocarbon production for the full year of 1,682 kboe/d. In 2022 Eni reported hydrocarbon production for the full year of 1,610 kboe/d. In 2023 Eni reported hydrocarbon production for the full year of 1,66 kboe/d. In 2012, sales of natural gas were 95.32 bcm, down 1.44 bcm compared to 2011. Sonatrach Sonatrach is the 12th largest oil consortium in

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2772-557: The future opening of international routes. In July 2020, Sonatrach signed a contract with Italian company Eni . The contract which will run until 2049, includes the production marketing from three gas fields located in the south-east of the country. The three fields are Sif Fatima II, Zemlet El Arbi and Ourhoud II. An additional memorandum of understanding (MoU) was signed in December 2020 in order to boost exploration and production, as well as implement training activities. In March 2021,

2838-631: The hospitality industry and even the textile industry and news. With revenues of around €92.2 billion, Eni ranked 111th on both the Fortune Global 500 and the Fortune Global 2000 in 2022, making it the third-largest Italian company on the Fortune list (after Assicurazioni Generali and Enel ) and second largest on the Forbes list (after Enel). On the Fortune Global 500, Eni is

2904-486: The international ITER . On 5 September 2021, CFS successfully built and tested a 1: 1 scale prototype of a magnet based on HTS (High Temperature Superconductors) superconductors . The experiment demonstrated for the first time that it is possible to create a fusion chamber where the confinement of the plasma is ensured by this type of super magnets. This kind of fusion chamber will allow the reactor to reach very high temperatures, above 100 million degrees, necessary to make

2970-1004: The largest hydrogen producer in Italy, with expected production of 7,800 tonnes of hydrogen and 25,000 tonnes of syngas yearly. Another project planned to begin construction in July 2023, is the polypropylene (PP) plant in Algeria through the cooperation between Total and Sonatrach. It is intended that a capacity of 550,000 tonnes of homopolymer should be achieved yearly at the STEP PP plant. On 10 July 2023, Sonatrach and TotalEnergies signed amended contracts for their Tin Fouye Tabankort II (TFTII) and Tin Fouye Tabankort Sud (TFT Sud) fields. The original contracts were converted to comply with Algeria's 2019 petroleum law, and

3036-628: The largest oil field in Algeria, Hassi Messaoud, which produced around 440,000 bbl/d (70,000 m /d) of crude in 2006. Sonatrach also operates the Hassi R'Mel field (north of Hassi Messaoud, south of Algiers), which produces around 180,000 bbl/d (29,000 m /d) of crude. Other major fields operated by Sonatrach include Tin Fouye Tabankort Ordo, Zarzaitine, Haoud Berkaoui/Ben Kahla, and Ait Kheir. Sonatrach operates over 3,900 km (2,400 mi) of crude oil pipelines in

3102-644: The largest petroleum company in Italy, the second largest based in the European Union (after TotalEnergies ), and the 13th largest in the world. In 2023, the company’s seat in Forbes Global 2000 was 81, while in Fortune Global 500 was 61. Eni was founded in 1953 by an existing company, Agip , which was created in 1926 with the aim to explore for oilfields, and acquire and commercialize oil and derivatives. In March 1953, Enrico Mattei

3168-482: The loses from previous years, considerate price reviews were being made for each company in which they supply too. At the end of 2022, production operations began at the Tinrhert gas field. Each day it is estimated that 500 tons of liquefied natural gas and 800 tons of condensate will be produced. Sonatrach also signed a contract with Geoplin for the supply of natural gas to Slovenia via pipelines through Tunisia,

3234-508: The original EPC1 that was acquired in 2018 covered the new inlet separation and compression centre. This new EPC makes Petrofac responsible for Alrar separation and boosting facilities. The almost $ 300 million valued project contract was given to Sonatrach for the EPC2 of the Tinrhert Development Project, which includes a new central processing facility with an inlet separation and decarbonisation unit. Multiple oil and gas discoveries were made in

3300-575: The price of oil collapsed in 1998, like other major companies, Eni got into the melee of mergers, international acquisitions, new exploration and the foundation of real super-companies. Since 2000, Eni has been developing the Kashagan oilfield a major offshore discovery, along the Caspian Sea . In 2005, the Blue Stream pipeline, projected to supply gas from southern Russia to Turkey,

3366-421: The prices of raw materials such as oil and gas which have significantly increased, due to their shortage. On 17 May 2022 Eni announced the procedures for the creation of an account with Gazprombank in dual currency ( euro and rubles ), in order to be able to proceed with the payment of Russian gas supplies, following the unilateral amendment of the contracts ordered by the Russian Federation . The decision

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3432-444: The remaining 49%. On 22 July 2019, the Sonatrach-controlled oil tanker Mesdar was briefly detained as it transited the Straits of Hormuz by the Islamic Republic of Iran . This was a case of mistaken identities because Sonatrach contracted a UK-based operator for the vessel, and the government of Iran was at odds with the government of the UK over the seizure of the oil tanker Grace 1 . When they realised their error and released

3498-653: The same location. In April 2024, Sonatrach and TotalEnergies signed an MoU for the development of the North-East Timimoun region gas resources. The complex is made up of 37 wells which are connected to the gas processing facility leading though the pipelines to Hassi R’mel and TotalEnergies has been managing it since 2018. Earlier in the year, Sonatrach and TotalEnergies extended their LNG contracts to 2025 for an additional 2 million tons of LNG. In May 2024, Sonatrach signed an agreement with ExxonMobil to study existing opportunities for developing hydrocarbon resources in Ahnet and Gourara basins in Southern Algeria. An EPC

3564-414: The summer of 2022 including one that is close to the Hassi R'Mel field, two were found during exploration in the Ekker Sud West-1 well, and there were positive results during drilling in the Tamzaia-3. With the ongoing supply problems to Europe from Russia, Sonatrach began contemplating ways to benefit from the gas price rises in 2022. With the increase in Algeria's role as supplier and trying to recover

3630-531: The undervaluation of the company and release up to 50 billion euros ($ 70bn) of hidden value. In 2010, Eni achieved a key production milestone in Iraqi Zubair oil field. After getting a licence in 2006 for the exploration of an offshore area in the north of Mozambique, known as Area 4, Eni announced several major natural gas discoveries between 2011 and 2012 such as Mamba South , Mamba North , Mamba North East and Coral 1. In February 2014, Eni discovered oil at its Democratic Republic of

3696-502: The village of Sbaa 40 km (25 mi) north of Adrar . On July 1, 2018, Sonatrach appointed Youcef Ghazli to head the Foreign Investment Division, which oversees all investments in Europe. In March 2022, Naftal officials signed a US$ 364 million engineering, procurement and construction (EPC) contract with Sonatrach's pipeline unit TRC. The pipeline should only take about 48 months to construct, and it would run 424 km from Arzew to Chlef , carrying about 1.2 million tonnes of LPG

3762-438: The world, with 154 subsidiaries operating over the entire oil value-chain from upstream , to midstream , and downstream activities. In 2002, its gross sales was 1,530 billion Algerian dinars for a net income of 175 billion. With approximately 120,000 workers, the company produced 30% of the GNP of Algeria. Annually it produced 206 million Tonne of Oil equivalent (ToE), including 24 million ToE, or 11.7% of total, for

3828-446: Was also awarded to Baker Hughes and Tecnimont for the work at Hassi R’Mel gas field. The project, worth $ 2.3 billion, includes the construction of 3 new gas boosting stations with turbo compressors and upgrading of over 300km of existing gas flowlines. Sonatrach owns 50% of Numhyd , a joint venture with Tunisia 's ETAP , and ALEPCO, a joint venture with Libya 's National Oil Corporation . In 1998, Sonatrach acquired Naftal , which

3894-492: Was divided into four enterprises. From 1986, it became possible for foreign hydrocarbon companies to do business in Algeria within a partnership with Sonatrach (this process was simplified in 1991). The Sonatrach-Gaz de France accord, signed on January 12, 1989, allowed the state to set a compromise price of about $ 2.30 per million BTUs. A total of 9.5 billion cubic meters of natural gas were delivered annually until 1990, and Sonatrach recovered 850 million francs in arrears, since

3960-430: Was inaugurated as a joint venture between Eni and Gazprom . In 2007, Eni signed an agreement to conduct South Stream a feasibility study with Gazprom to import Russian gas into Europe across the Black Sea . Activist asset manager Knight Vinke , who owns 1% of the outstanding shares of the company, began pressuring Eni's management to operate a spin-off of Eni's gas activities. In its opinion, this would solve

4026-444: Was inaugurated in Assemini , the second opened in Porto Torres , both in Sardinia . In July 2017, the oil giant accepted responsibility for an oil spill affecting the Fylde coast of Blackpool in the United Kingdom. In January 2018, Eni launched its new HPC4 supercomputer , one of the most powerful computing systems which allows a more effective and fast exploration of oil and gas reservoirs . Since February 2020 Eni replaced

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4092-525: Was initially considered an accident, but later it was confirmed to be a murder with the aim of protecting and hiding important economic and political interests in Italy and especially abroad, as it is clearly stated in the records of the trial on the assassination of the journalist Mauro De Mauro , who was investigating the death of Enrico Mattei. During the following years, Eni signed joint venture contracts with foreign companies to supply crude from Egypt to Iran and from Libya to Tunisia. In 1963, Eni acquired

4158-405: Was nominated Eni's chairman. In 1952, the logo of the then nascent Eni was selected. The logo is a six-legged dog, an imaginary animal symbolizing the sum of a car's four wheels and the two legs of its driver. Starting in 1954, Eni acquired extensive exploration rights in North Africa, signing an agreement with the Egyptian government led by Nasser while providing an active and equal role for

4224-428: Was reached to produce oil and gas at Cape Three Points in the Western Region of Ghana, in an attempt to enable Ghana to meet its power and energy needs. In August 2015, Eni announced the discovery of a huge gasfield off the coast of Egypt. In 2016, Eni launched Progetto Italia, which aims to redevelop its industrial areas and to create new renewable sources production plants: in 2018 the first photovoltaic plant

4290-413: Was replaced by a seizure of a 51% share of French petroleum companies. Only TotalEnergies agreed to continue its activities; the other companies left Algeria. Beginning on December 10, 1979, a conference on the exploitation of petroleum recommended increasing participation in the research efforts by foreign companies and countries. By a decree published in the Journal Officiel on May 17, 1980, Sonatrach

4356-430: Was taken in agreement with the Italian government and does not violate the existing sanctions . The European Commissioner for Economy Paolo Gentiloni and the competent Russian federal authorities have confirmed that payments will continue to be made in euros and that the conversion operations will be carried out by Russian clearing agents without the involvement of the Russian Central Bank . In June 2022, Eni signed

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