The two groups include Natural Resources and Energy Evolution, which are expected to maintain close links in the hydrocarbon value chain
Italian oil and gas company Eni has launched two new business groups, as part of its efforts to focus on energy transition.
The two groups include Natural Resources and Energy Evolution, which are expected to maintain close links in the hydrocarbon value chain.
Natural Resources will focus on developing the upstream oil and gas portfolio sustainably, while Energy Evolution will support the evolution of power generation, product transformation and marketing of products from fossil to bio, blue and green.
Eni CEO Claudio Descalzi said: “This new structure reflects Eni’s pivot to the energy transition. An irreversible path that will make us leaders in decarbonized energy products.
“With our new Plan, in February, we have set our path for the next 30 years, as of today it is unique in our industry.
“To make the plan come true, and position us to accelerate its delivery, we are creating two new business groups in our company.
“They will have specific objectives, but they will also cooperate to deliver on the transition and to provide our customers with the widest range of sustainable products.
“The reorganization also involves the corporate structures, which will evolve, continuing to be the central reference point for strategic and control processes, providing an effective support to meet the business groups’ objectives.”
The new business structure of Eni will be implemented over the coming weeks
The Natural Resources division aims to reduce the firm’s carbon footprint by scaling up energy efficiency and expanding production in the natural gas business, and its position in the wholesale market.
It will also focus on the development of carbon capture and compensation projects.
The group will incorporate the Eni’s oil and gas exploration, development and production activities, natural gas wholesale through pipeline and LNG.
On the other hand, Energy Evolution will incorporate the activities of power generation from natural gas and renewables, the refining and chemicals businesses, Retail Gas&Power and mobility Marketing.
Furthermore, the two new business divisions are planned to be implemented over the coming weeks.