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10 May 2010

Eni Norge annual result

PRESS RELEASE: Eni Norge AS had a net income after taxes of 2,358 million Norwegian kroner in 2009.

The total operating revenues in 2009 amounted to 15,170 million Norwegian kroner compared to 21,002 million kroner in 2008. The reduced revenues in 2009 are mostly due to significantly lower oil and gas prices.

The company had a net income of 2,358 million Norwegian kroner compared to 3,757 million Norwegian kroner in 2008. Income taxes were down from 11,080 million Norwegian kroner in 2008 to 5,986 million kroner in 2009.

The total volume sold in 2009 was 46 million barrels of oil equivalent. The daily net production for Eni Norge in 2009 was 126 000 barrels of oil equivalent. In comparison, the average net production in 2008 was 129 000 barrrels of oil equivalent.

The proven reserves at year-end are 434 million of oil equivalent, an increase from 376 million compared with the previous year. The major contributor to this increase was the result of the PDO approval in june 2009.