OREANDA-NEWS. Eni, the international oil and gas company, today announces its group results for the first quarter of 2013 (unaudited).

Financial Highlights

Adjusted operating profit: EUR 3.79 billion, down 36% excluding Snam contribution to the first quarter of 20123;

Adjusted net profit: EUR 1.43 billion, down 39% excluding Snam contribution to the first quarter of 20123;

Cash flow: EUR 2.80 billion;

Leverage: down to 0.24.

Operational Highlights

Oil and natural gas production: down 4.9% to 1.6 mmboe/d affected by one-offs in Nigeria, Libya and the UK;

Natural gas sales: down 1.3% to 30.2 billion cubic meters due to the disposal of Galp;

Signed an agreement with CNPC to sell 28.57% of the share capital of Eni East Africa, which currently owns a 70% interest in Area 4 in Mozambique, at the agreed price of USD 4.21 billion in cash; access to a promising shale gas block in China;

Acquired exploration licences in areas of high potential in Timor Leste, Cyprus, Egypt and the Gulf of Mexico;

Versalis entered partnership agreements with Genomatica, Pirelli and Yulex targeting continuing expansion in the bio-technologies and the bio-rubber segment.

Paolo Scaroni, Chief Executive Officer, commented:

“We confirm our growth and profitability targets for the full year 2013, in spite of a slower first quarter. This was negatively impacted by lower oil&gas production due to contingencies as well as to the current downturn in the gas market. Our E&P Division confirms its production growth targets for 2013 driven by continuing progress in developing ongoing projects. The G&P Division will benefit from the renegotiation of supply contracts which will mitigate the impact of a still very negative market. The R&M Division and Versalis, which both delivered strong improvements over the same period a year ago, will continue with their respective programs to drive a recovery in profitability‘.