see eni of east anglia . for places in iran see eni iran . eni s.p.a. type societ per azioni traded as bit eni nyse e industry oil and gas founded february 10 1953 ; 63 years ago 1953 02 10 headquarters rome italy area served worldwide key people emma marcegaglia chairman claudio descalzi ceo products petroleum natural gas petroleum products energy revenue 90.984 billion 2015 1 operating income 2.781 billion 2015 net income 8.783 billion 2015 2 total assets 134.792 billion 2015 total equity 53.369 billion 2015 number of employees 80 911 2015 subsidiaries agenzia giornalistica italia eni gas & power polimeri europa saipem syndial tecnomare website www.eni.com eni s.p.a. is an italian multinational oil and gas company headquartered in rome . sometimes when considered one of the global supermajors it has operations in 79 countries and is currently world s 11th largest industrial company with a market capitalization of 68 billion euros us 90 billion as of august 14 2013 . 3 the italian government owns a 30.303 % golden share in the company 3.934 % held through the state treasury and 26.369 % held through the cassa depositi e prestiti . another 2.012 % of the shares are held by people s bank of china . 4 the company is a component of the euro stoxx 50 stock market index . 5 the name eni was initially the acronym of ente nazionale idrocarburi national hydrocarbons authority . through the years after its foundation however it operated in a large number of fields including contracting nuclear power energy mining chemicals and plastics refining extraction and distribution machinery hospitality industry and even textile industry and news . eni constantly ranks among the top 100 on forbes fortune global 500 list for largest companies by revenue . in 2016 the company holds the 65th place a fall of 40 places from the previous year s 25th rank . 6 contents 1 history 1.1 1950s 1960s 1.2 1970s 1980s 1.3 1990s 2000s 1.4 2000s 2010s 1.5 2010 to present 2 operations 2.1 exploration & production 2.2 gas & power 2.2.1 natural gas 2.2.2 power generation 2.3 refining & marketing 2.4 engineering & construction 3 subsidiaries 4 legal problems 5 sustainability 6 see also 7 references 8 bibliography 9 external links history edit 1950s 1960s edit eni was founded and established by law in 1953 7 8 from an existing company agip which was created in 1926 with the aim to explore for oilfields acquire and commercialize oil and derivatives . in march 1953 enrico mattei was nominated eni s chairman . 9 10 eni originally was an acronym for the company s full title ente nazionale idrocarburi . 11 since 1995 the meaning ceased to be relevant but the name was maintained . 12 in 1952 eni chooses its own logo the six legged dog an imaginary animal symbolizing the sum of a car s four wheels and the two legs of its driver . 13 14 starting 1954 eni holds extensive exploration rights in north africa 11 signing an agreement with the egyptian government led by nasser 15 while providing an active and equal role for the crude producing countries through the establishment of joint ventures . 16 in 1957 eni pushed for a similar agreement known as the mattei formula 17 18 to be signed with persian shah reza pahlavi and the national iranian company . 19 20 21 in 1960 during the cold war period eni signed an agreement with the soviet union for the importation of russian crude at very reasonable prices . 22 23 on 27 october 1962 enrico mattei died on an aircraft accident involving his twin jet while surrounding bascap 24 on his way to milan from catania . 25 during the following years eni signed contracts in joint venture with foreign companies to supply crude from egypt to iran and from libya to tunisia . 26 in 1967 eni acquired italgas . 27 1970s 1980s edit in october 1973 after the yom kippur war and the embargo 28 29 against the united states and the netherlands agreed by opec members arab countries a serious oil crisis occurred 30 pushing eni in need to consolidate its position in the international market by signing an agreement with sonatrach 31 the algerian state oil entity for natural gas supply . 32 in 1974 eni signed an agreement with libyan government followed by further agreements with egypt nigeria and tunisia 33 34 35 36 while developing two new major oil discoveries in the british north sea got on 1972 . 37 during the middle 70 s eni planned a major infrastructure for transporting natural gas over long distances by building a pipeline network of thousands of miles throughout europe and the mediterranean . 38 39 40 after the inauguration of the trans mediterranean pipeline connecting algeria to sicily through tunisia 41 eni signs a new agreement with libya for the exploitation of bo ri 42 the biggest oilfield in the centre of the mediterranean 43 and develops its international role within the oil industry . 44 1990s 2000s edit in 1992 eni became a joint stock company by law decree 45 46 47 48 49 and was listed to the italian and new york stock exchange in 1995 . 50 51 52 from 1995 to 1998 eni put four share offers fully successfully as 70 % of its capital assets were sold to private shareholders . 53 54 55 as the price of oil collapsed in 1998 as other major companies eni got to turn into a race through merges international acquisitions new explorations and the foundation of real super companies . 56 57 58 2000s 2010s edit since 2000 eni has been developing the kashagan 59 oilfield a major offshore discovery along the caspian sea . 60 61 in 2005 the blue stream pipeline projected to supply gas from southern russia to turkey was inaugurated as a joint venture between eni and gazprom . 62 63 64 in 2007 eni signed an agreement to conduct south stream a feasibility study with gazprom to import russian gas into europe across the black sea . 65 66 67 activist asset manager knight vinke who owns 1 % of the outstanding shares of the company begun pressuring eni s management to operate a spin off of eni s gas activities . in its opinion this would solve the undervaluation of the company and release up to 50 billion euros 70bn of hidden value . 68 in 2010 eni achieves key production milestone in iraqi zubair oil field . 69 70 71 after getting a licence in 2006 for the exploration of an offshore area in the north of mozambique known as area 4 72 73 74 eni announced several major natural gas discoveries between 2011 and 2012 such as mamba south 75 76 77 78 79 80 mamba north 81 82 mamba north east 83 84 85 86 coral 1 . 87 88 89 90 2010 to present edit in february 2014 eni discovered oil at its drc offshore block . 91 since 2012 eni has been selling off refining and marketing assets it owned in eastern europe in order to increase profitability . by 2013 eni already reduced its refining capacity by 13 percent . in may 2014 eni agreed to sell their 32.5 % share in esk rafinersk a.s. crc a refining company in czech republic to mol group of hungary . 92 in june 2014 the company signed an agreement with sasol to acquire a 40 % interest in a permit to explore 82 000 km2 offshore of south africa s east coast . 93 in january 2015 eni in collaboration with vitol energy signed a 7 billion contract with the government of ghana . this agreement was reached in order to produce oil and gas at cape three points in the western region of ghana in an attempt to enable ghana meet its power and energy needs . in august 2015 eni announced the discovery of a huge gasfield off the coast of egypt . 94 operations edit eni oil bouri dp4 in bouri field is the biggest platform in the mediterranean sea exploration & production edit as exploration and reserve replacement being major drivers for the company 95 eni boosts for production additions in its core oil field areas north and sub saharan africa 96 97 98 99 venezuela 100 101 barents sea 102 103 yamal peninsula 104 105 kazakhstan 106 107 iraq 108 and the far east . 109 110 eni has about 130 exploration and production subsidiaries 111 such as eni norge . 112 in 2012 eni reported liquids and gas production for the full year of 1 701 kboe d this being calculated assuming a natural gas conversion factor to barrel equivalent updated to 5 492 cubic feet of gas equal 1 barrel of oil from july 1 2012 . 95 113 during 2012 60 new exploratory wells were drilled as 56 were drilled in 2011 and 47 in 2010 . the overall commercial success rate was 40 % 40.8 % net to eni as compared to 42 % in 2011 38.6 % net to eni and 41 % in 2010 39 % net to eni . in 2012 351 development wells were drilled as well as 407 in 2011 and 399 in 2010 . 114 115 116 gas & power edit natural gas edit in 2012 sales of natural gas were 95.32 bcm down 1.44 bcm compared to 2011 . 117 118 119 eni s power generation sites are located in ferrera erbognone ravenna livorno taranto mantova brindisi ferrara and bolgiano . 120 121 in 2012 eni s power generation was 25.67 twh . 122 123 overall eni supplies 2 600 customers including large companies power generation companies wholesalers and distributors of natural gas for automotive use . residential users are 7.45 million and include households professionals small and medium size enterprises and public bodies located all over italy and 2.09 million customers in european countries . international sales include iberian peninsula germany austria benelux hungary uk northern europe turkey france markets . 124 125 126 127 128 power generation edit eni s electricity generation sites in italy as of january 2010 are the following 129 natural gas power plants brindisi 1321 mw ferrara 61 mw ferrera erbognone 1030 mw livorno 199 mw mantua 836 mw ravenna 972 mw taranto 300 mw photovoltaic power plants nettuno 30 mw refining & marketing edit eni is the leader operator in refining and marketing of petroleum products in italy . 130 131 eni is engaged in retail and wholesales activities in central eastern european countries also austria france germany italy czech republic romania slovakia slovenia switzerland hungary . 132 133 134 135 retail sales operations are conducted under the eni and agip brands . the re branding of eni s service stations in italy and in the rest of europe to eni brand is underway . 130 136 137 engineering & construction edit eni operates in engineering construction and drilling both offshore and onshore for the oil & gas industry through the subsidiary saipem . 138 in april 2012 eni in collaboration with zeitecs announced the world s first offshore rigless wireline retrievable esp system for eni congo . 139 subsidiaries edit eni s principal subsidiaries include eni gas & power 140 100 % owned a natural gas and power company based in belgium formed by merger of distrigas and nuon belgium versalis fr 100 % owned versalis is a chemical company that manages the production and marketing of petrochemical products such as olefines aromatics and intermediates base chemicals styrenes elastomers and polyethylene plus in recent years a focus on green chemistry being also able to count on a range of proprietary technologies advanced plant facilities and a broad based distribution network . citation needed saipem 43 % owned saipem is an oil and gas industry contractor . saipem has contracted for engineering