Eni in Indonesia contributes to RI's growing energy need

Eni in Indonesia contributes to RI's growing energy need

Eni, the Italian oil and natural gas company, has leading
international market positions in oil and gas, petrochemical and
oil field services and engineering industries. Eni has been
operating in Indonesia since 1970.

Saipem, Eni's engineering and contracting arm, has been
awarded the engineering and installation of two natural gas sea
lines, each 25 kilometers long, in East Kalimantan. The lines,
which connect the offshore well of Peciko to an onshore gas
plant, were laid by Castoro 2000, a derrick-lay barge used for
subsea pipe-laying. This vessel is part of Saipem's
technologically advanced fleet, which, coupled with the company's
proprietary technologies, makes Saipem a world leader in the
installation of offshore platforms and the laying of underwater
pipelines, especially in very deep waters and hostile
environments. Saipem has laid more than 15,000 kilometers of sea
lines around the world, particularly in the Mediterranean, the
North Sea, West Africa, the Middle East and Southeast Asia.

Enichem, Eni's petrochemicals arm, markets its petrochemical
products throughout Indonesia. Enichem is the European leader in
the production of ethylene and styrene-butadiene rubbers and has
a strong competitive presence in the production of polystyrene
and polyurethane.

Eni has accomplished a number of important projects in
Indonesia and intends to further contribute to the country's
growing energy needs. The evolution of Indonesia's exploration
and production of oil and natural gas is of particular interest
to Eni. Eni believes it can make a significant contribution also
by making available its full range of world-class technology,
engineering and project management services to an extensive range
of industrial and government clients. Opportunities in the energy
field arising from the country's privatization process will
contribute to make Indonesia an increasingly important player in
the energy scenario of the region and the world.

Eni's objective is to create value for its shareholders
through the continuous improvement of cost efficiency and the
quality of its products and services. To achieve this objective,
Eni relies on the managerial and technical capabilities, as well
as the continuous development of its workforce.

Eni was the second largest publicly traded company in Italy,
the third largest publicly traded oil and gas company in Europe
and the seventh in the world as at Dec. 31, 1998, based on its
equity market capitalization.

Net sales in 1998 reached 54,910 billion lire (US$30 billion)
and net income was 4,500 billion lire. Daily average production
of oil and gas surpassed one million barrels. Eni's estimated
proved reserves totaled about 5,200 million barrels of oil
equivalent. In 1998, Eni's portfolio of exploration and
development rights stretched throughout 31 countries and covered
a surface area of about 284,000 square kilometers. In 1998, Eni
had operations in 75 countries.