Eni creates two new business groups
BAKU, Azerbaijan, June 4
By Leman Zeynalova - Trend:
Italy’s Eni company has a new business structure approved by the Board of Directors, Trend reports with reference to the company.
Eni will have two business groups – Natural Resources and Energy Evolution.
Natural Resources will continue to build up the value of Eni’s oil & gas upstream portfolio, with the objective of reducing its carbon footprint by scaling up energy efficiency and expanding production in the natural gas business, and its position in the wholesale market.
Furthermore, it will focus its actions on the development of carbon capture and compensation projects. Continuous technological development, and increased efficiency will allow the maximization of cash generation, even in challenging scenarios.
The business group will incorporate the Company’s oil & gas exploration, development and production activities, natural gas wholesale via pipeline and LNG. In addition, it will include forestry conservation (REDD+) and carbon storage projects, and sustainability which will continue to integrate across all Eni’s activities. The company Eni Rewind (environmental activities), will also be consolidated in this business Group.
Energy Evolution will focus on the evolution of the businesses of power generation, transformation and marketing of products from fossil to bio, blue and green. In particular, it will focus on growing power generation from renewable energy and biomethane, it will coordinate the bio and circular evolution of the Company’s refining system and chemical business, and it will further develop Eni’s retail portfolio, providing increasingly more decarbonized products for mobility, household consumption and small enterprises.
Furthermore, in terms of central structures, a new function – Technology, R&D, and Digital – will be created.