Eni posts 2012 fourth quarter and full year results

'Record year for exploration' says CEO Scaroni

Eni posts 2012 fourth quarter and full year results

Rome, February 15 - Italian oil and gas company Eni posted a net profit of 7.79 billion euros for the full year 2012, a 13.5% increase over the previous year, according to its latest results published Friday. Net profit in the final quarter stood at 1.46 billion euros. Adjusted net profit was 7.13 billion euros (up 2.7%) for the full year and 1.52 billion euros (down 3.6% ) for the last quarter. The board of directors proposed a dividend for the full year of 1.08 euros per share, including the interim dividend of 0.54 euros per share paid out last September. Eni produced 1.701 million barrels of oil and natural gas per day in 2012, up 7% from the previous year. It also posted a record amount of discovered resources, translating into an estimated 3.64 billion barrel of oil equivalent (BBOe), and acquired exploration licenses in the emerging areas of Liberia, Kenya, Vietnam, Cyprus and offshore Russia. ''2012 was a record year for exploration at Eni with discovered resources about six times yearly production thanks to our outstanding achievements in Mozambique and our other successes in West Africa, in the Barents Sea and in Indonesia,'' said group CEO Paolo Scaroni.

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