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.