World Oil and Gas Review 2015

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8 Introduction List of Countries: Europe: Albania, Austria, Belarus, Belgium, Bosnia Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Macedonia, Malta, Moldova, Montenegro, Netherlands, Norway, Poland, Portugal, Romania, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, Ukraine and United Kingdom. Russia and Central Asia: Russia, Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. Middle East: Bahrain, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, United Arab Emirates and Yemen Africa: Algeria, Angola, Benin, Cameroon, Chad, Congo, Côte d Ivoire, Dem. Rep. Congo, Egypt, Equatorial Guinea, Ethiopia, Gabon, Ghana, Kenya, Libya, Madagascar, Mauritania, Morocco, Mozambique, Namibia, Niger, Nigeria, Rwanda, Senegal, Somalia, South Africa, Sudan, Tanzania, Tunisia, Uganda, Zambia and Zimbabwe. Asia - Pacific: Afghanistan, Australia, Bangladesh, Brunei, China, East Timor, Hong Kong, India, Indonesia, Japan, Malaysia, Mongolia, Myanmar, Nepal, New Zealand, North Korea, Pakistan, Papua New Guinea, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand and Vietnam. Americas: North America, Latin America. North America: Canada and the United States. Latin America: Argentina, Barbados, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, El Salvador, Guatemala, Haiti, Honduras, Jamaica, Mexico, Netherlands Antilles, Nicaragua, Panama, Paraguay, Peru, Suriname, Trinidad and Tobago, Uruguay and Venezuela. European Union: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and United Kingdom. OECD: Europe, Middle East, Asia - Pacific, North America, Latin America. - Europe: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey and United Kingdom. - Middle East: Israel. - Asia - Pacific: Australia, Japan, New Zealand and South Korea. - North America: Canada, Mexico and the United States. - Latin America: Chile. VI

9 Introduction OPEC: Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela. MENA (Middle East and North Africa): Bahrain, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Syria, United Arab Emirates and Yemen, Algeria, Egypt, Libya, Morocco and Tunisia. MED: Albania, Algeria, Austria, Bosnia Herzegovina, Bulgaria, Croatia, Cyprus, Egypt, France*, Germany*, Gibraltar, Greece, Hungary, Israel, Italy, Jordan, Lebanon, Libya, Macedonia, Malta, Montenegro, Morocco, Romania, Serbia, Slovenia, Spain*, Switzerland*, Syria, Tunisia, Turkey and Ukraine. NWE (North West Europe): Belgium, Czech Republic, Denmark, Estonia, Finland, France*, Germany*, Iceland, Ireland, Latvia, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Spain*, Sweden, Switzerland*, United Kingdom. This Review adopts the most commonly used names for countries and not necessarily the official name. The names used do not in any way indicate the opinion of Eni on the legal status of countries, territories, cities or areas mentioned. The term country is used to indicate, when necessary, also a territory or area. Borders between countries are indicated on the maps and do not imply judgement of any kind or the position of Eni with regard to current international disputes. This Review has been prepared by the Scenarios, Strategic Options & Investor Relations Department. Pro quota VII

10 Introduction Notes and Methods The sources of the data are: Arab Oil & Gas Directory, Cedigaz, CME, DECC, EIA DOE, Enerdata, ICE, ICIS Consulting, International Energy Agency, IHS Global Insight, Italian Ministry for Economic Development, Norwegian Petroleum Directorate, Oil & Gas Journal, OPEC, PIRA, PIW, Wood MacKenzie and other official sources. Blank spaces in the tables indicate that the figure was not available, zero indicates a figure that is not significant (except for the chapters Production Quality, Imports of natural gas and LNG Liquefaction and Regasification Capacity ). Total may differ from the sum of the individual figures as a result of rounding up/down. Percentages have been calculated before rounding. Data for Sudan also include South Sudan. World total population is the population of all the countries in the world, while population figures for areas and aggregates take into account only the countries for which this publication shows energy data. Therefore the sum of population figures of all areas and aggregates is lower than world population. Oil Gas In all the chapters of oil and natural gas, in some countries figures may include oil and natural gas from non conventional sources and others sources of supply. The figures for Reserves refer to proven reserves as at 31 st December. The figures for other chapters indicate annual averages. In all the chapters, the list of the The world top 10 is drawn up by ordering the countries on the basis of the last available year. In the chapters Reserves/Production Ratio and Production/Consumption Ratio, the list of the The world top 10 is drawn up by selecting the largest producers in the last available year and ordering them on the basis of the value of the reserves/production and production/consumption ratio. In the chapter Per Capita Consumption, the list of the world top is drawn up by selecting the largest consumers in the last available year and ordering them by the value of per capita consumption. Oil The difference between the Consumption and the Production of oil is given by the change in stocks, the processing gains obtained in refining and the amount of biofuels which is not included in Production. Gas In the chapters Production, Consumption, Exports and Imports figures are assessed by using the same calorific value per cubic metre (39 MJ/cm, GCV), in order to make data among countries comparable. For NON OECD countries, data for 2014 are Eni s estimates. In the chapter Production of natural gas, the figures concern traded production and do not include quantities of flared, dispersed or re-injected gas. In the chapter Imports, imports of liquefied natural gas cover only the dry marketable equivalent after regasification. In the chapter Imports, the figure reported as total imports for a single country may differ from the sum of Imports by LNG and pipeline for the same country, because of the different sources and different calorific attached to the cubic metre. Production Quality In the chapter Production Quality figures for total oil production in each area or country do not coincide with the figures in the Production chapter of the Review. This is due to the exclusion of natural gas liquids and extra heavy crude from the figures for the first (except for Venezuela). Moreover, it has not been possible to allocate or define total production. In some countries the Ultra Light category also includes, in total or in part, the production of condensates. For Canada the production includes syncrude. API degree is used universally to expresses a crude s relative density. The arbitrary formula used to obtain it is: API gravity = (141.5/SG at 60 F) , where SG is the specific gravity of the fluid. Lighter the crude, higher the API gravity. The API scale was designed so that most values would fall between 10 and 70 API gravity degrees. Fresh water has an API density of 10. Atmospheric distillates yields are obtained according to TBP (True Boiling Point) technique, ASTM D2892 procedure. Figures are expressed in mass percentage. For the definition of the qualitative parameters for single crudes, the data of Eni R&M Division San Donato Research Center Downstream Products Technologies have been used, wherever possible. Quality levels, indicating API gravity and sulphur content, are defined as follows. VIII

11 Introduction Quality levels - API gravity and sulphur content Ultra Light API level equal to or greater than 50 and a low sulphur content Light & Sweet API level equal to or greater than 35 and less than 50, sulphur content less 0.5% Light & Medium Sour API level equal to or greater than 35 and less than 50, sulphur content equal to or greater than 0.5% and less than 1% Light & Sour API level equal to or greater than 35 and less than 50, sulphur content equal to or greater than 1% Medium & Sweet API level equal to or greater than 26 and less than 35, sulphur content less 0.5% Medium & Medium Sour API level equal to or greater than 26 and less than 35, sulphur content to or greater than 0.5% and less than 1% Medium & Sour API level equal to or greater than 26 and less than 35, sulphur content equal to or greater than 1% Heavy & Sweet API level equal to or greater than 10 and less than 26, sulphur content less 0.5% Heavy & Medium Sour API level equal to or greater than 10 and less than 26, sulphur content equal to or greater than 0.5% and less than 1% Heavy & Sour API level equal to or greater than 10 and less than 26, sulphur content equal to or greater than 1% Refining Industry The Refining Capacity set of tabulations provides the following information: - Refineries: includes asphalt and lube oriented units, when dedicated topping capacity is present. Condensate refineries are included. - Primary Capacity: represents a pro rated annual average of available capacity, excluding turnarounds. - Conversion Capacity (FCC eqv.): sum of conversion capacity, converted to Catcracking (FCC) equivalent capacity. FCC equivalent capacity equals 1; other conversion capacities can be higher or lower than 1 (the equivalent factors are reported below in the next table). - Complexity Capacity - FCC eqv.: ratio of Conversion Capacity (converted to FCC equivalent) over Primary Capacity, calculated on a weight basis. - The higher is the complexity index, the higher is the capability of a refinery to produce high equivalent quality and value products. - Complexity Ratio NCI (Nelson Complexity Index): is another measure of secondary conversion capacity in comparison to the primary distillation capacity. The units are rated in terms of their costs relative to the primary distillation unit. The higher is the index the higher is the capability of a refinery to produce high quality and value products. The equivalent factors for the FCC equivalent calculation, reported below, change according to the type and the configuration of the conversion unit and are from ICIS Consulting. The factors for the Nelson calculation are standard factors, modified as necessary by Eni. Oxygenates and Aromatics are excluded. Conversion type Conversion type Alkylation Hydrodesulf-diesel Alkylation-hydrofluoric Hydrodesulf-gasoline Alkylation-sulfuric Hydrodesulf-kero Asphalt Hydrodesulf-mid-distillates Coking-delayed Hydrodesulf-naphta Coking-f/d Hydrodesulf-residue Coking-fluid Hydrodesulf-gvgo Coking-fxc Isomerization-c Condensate distillation Isomerization-In Crude Lube Deasphalting Polymerization Deasphalting-c Reforming-aromax Deasphalting-c Reforming-btx Deep catcracking Reforming-cc Distillate dewaxing Reforming-cyclic Fluid cat-cracking Reforming-Ipg feed Fluid catcracking-residue Reforming-sr Heavy residual gasification Thermal cat-cracking Hydrocracking-distillates Thermal cracking Hydrocracking-mild Vacuum Hydrocracking-residue Visbreaking IX

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13 oil Reserves Production Biofuels Production Reserves/Production Ratio Consumption Per Capita Consumption Production/Consumption Ratio Crude Future Price and Open Interests World Oil and Gas Review 2015

14 Oil Reserves Areas and Aggregates (million barrels as at 31 st December ) y/y ( ) CAGR ( ) Europe 19,493 16,648 12,718 12,787 12,617 12,962 12, % -3.2% Russia and Central Asia 56,395 77,227 98,281 98, , , , % 5.4% Middle East 694, , , , , , , % 1.0% Africa 91, , , , , , , % 2.3% Asia - Pacific 47,358 40,504 44,416 44,282 47,514 48,396 48, % 0.1% Americas 329, , , , , , , % 3.7% - North America 204, , , , , , , % 0.3% - Latin America 125, , , , , , , % 7.4% World 1,239,374 1,316,483 1,607,806 1,616,360 1,646,979 1,656,368 1,659, % 2.1% European Union 8,914 7,774 5,908 6,327 6,137 6,003 5, % -3.0% MENA 744, , , , , , , % 1.1% OECD 255, , , , , , , % -0.5% NON OECD 984,001 1,083,081 1,381,701 1,388,031 1,414,923 1,420,909 1,421, % 2.7% OPEC 845, ,265 1,192,727 1,198,292 1,200,830 1,206,170 1,206, % 2.6% NON OPEC 393, , , , , , , % 1.0% World Oil Reserves (2014) 1,659,372 million barrels as at 31 st December World Oil Reserves Growth ( ) 419,998 million barrels as at 31 st December Data source: Eni s estimates on Enerdata Global Energy & CO2 Data and other sources data 2

15 Oil Reserves The World Top 10 Reserves Holders (million barrels as at 31 st December ) y/y ( ) CAGR ( ) Venezuela 76,848 80, , , , , , % 10.2% Saudi Arabia 262, , , , , , , % 0.1% Canada 181, , , , , , , % -0.4% Iran 99, , , , , , , % 3.3% Iraq 112, , , , , , , % 1.7% Kuwait 96, , , , , , , % 0.4% United Arab Emirates 97,800 97,800 97,800 97,800 97,800 97,800 97, % 0.0% Russia 48,573 60,000 60,000 60,000 80,000 80,000 80, % 3.6% Libya 36,000 41,464 47,097 48,014 48,472 48,363 48, % 2.1% United States (**) 23,517 23,019 25,181 28,950 33,403 36,520 41, % 4.1% The World Top 10 1,035,234 1,098,068 1,362,079 1,368,795 1,395,465 1,403,533 1,408, % 2.2% Rest of the world 204, , , , , , , % 1.5% World 1,239,374 1,316,483 1,607,806 1,616,360 1,646,979 1,656,368 1,659, % 2.1% The World Top 10 (2014) Data source: Eni s estimates on Enerdata Global Energy & CO2 Data (**) Data source: Eni s estimates on EIA DOE data 3

16 Oil Reserves Countries (million barrels as at 31 st December ) y/y ( ) CAGR ( ) Europe 19,493 16,648 12,718 12,787 12,617 12,962 12, % -3.2% Albania % 0.1% Austria % -4.2% Belarus % 0.0% Bulgaria % 0.0% Croatia % -1.8% Czech Republic % 0.0% Denmark 1,069 1, % -3.9% France % -3.8% Germany % -3.6% Greece % 0.0% Hungary % -9.5% Italy (**) % 0.5% Lithuania % 0.0% Netherlands % 2.2% Norway 9,447 7,705 5,670 5,320 5,366 5,825 5, % -3.8% Poland % 1.7% Romania 1, % -6.0% Serbia and Montenegro % 0.0% Slovakia % 0.0% Spain % 15.1% Turkey % 0.0% Ukraine % 0.0% United Kingdom 4,725 3,870 2,805 3,098 3,038 3,030 3, % -3.1% y/y ( ) CAGR ( ) Russia and Central Asia 56,395 77,227 98,281 98, , , , % 5.4% Russia 48,573 60,000 60,000 60,000 80,000 80,000 80, % 3.6% Azerbaijan 1,178 7,000 7,000 7,000 7,000 7,000 7, % 13.6% Georgia % 0.0% Kazakhstan 5,417 9,000 30,000 30,000 30,000 30,000 30, % 13.0% Kyrgyzstan % 0.0% Tajikistan % 0.0% Turkmenistan % 0.7% Uzbekistan % 0.0% y/y ( ) CAGR ( ) Middle East 694, , , , , , , % 1.0% Bahrain % -1.3% Iran 99, , , , , , , % 3.3% Iraq 112, , , , , , , % 1.7% Israel % 7.9% Jordan % 0.8% Kuwait 96, , , , , , , % 0.4% Oman 5,506 5,506 5,500 5,500 5,500 4,974 5, % -0.5% Qatar 13,157 25,288 25,382 25,382 25,244 25,244 25, % 4.8% Saudi Arabia 262, , , , , , , % 0.1% Syria 2,500 2,500 2,500 2,500 2,500 2,500 2, % 0.0% United Arab Emirates 97,800 97,800 97,800 97,800 97,800 97,800 97, % 0.0% Yemen 4,000 4,000 3,000 3,000 3,000 3,000 3, % -2.0% Data source: Eni s estimates on Enerdata Global Energy & CO2 Data, for Norway on Norwegian Petroleum Directorate's data, for United Kingdom on DECC data (**) Data source: the original data are from Italian Ministry for Economic Development. They have been converted by Eni considering 1 ton of oil equal to 7.3 barrels 4

17 Oil Countries (million barrels as at 31 st December ) y/y ( ) Reserves CAGR ( ) Africa 91, , , , , , , % 2.3% Algeria 11,314 12,270 12,200 12,200 12,200 12,200 12, % 0.5% Angola 5,972 9,050 9,055 9,055 9,055 9,011 8, % 2.5% Benin % 0.0% Cameroon % -4.8% Chad 0 1,500 1,500 1,500 1,500 1,500 1, % Congo 1,506 1,506 1,600 1,600 1,600 1,600 1, % 0.4% Côte d'ivoire % 0.0% Dem. Rep. Congo % -0.3% Egypt 2,948 3,700 4,400 4,400 4,400 4,400 4, % 2.9% Equatorial Guinea 1,200 1,200 1,100 1,100 1,100 1,100 1, % -0.6% Gabon 2,499 2,499 2,000 2,000 2,000 2,000 2, % -1.6% Ghana % 29.9% Libya 36,000 41,464 47,097 48,014 48,472 48,363 48, % 2.1% Mauritania % Morocco % -7.4% Nigeria 29,000 36,220 37,200 37,200 37,139 37,070 37, % 1.8% South Africa % -4.4% Sudan ,000 5,000 5,000 5,000 5, % 23.4% Tunisia % 2.3% Uganda 0 0 1,000 1,000 2,500 2,500 2, % y/y ( ) CAGR ( ) Asia - Pacific 47,358 40,504 44,416 44,282 47,514 48,396 48, % 0.1% Australia 4,944 3,718 3,831 3,873 3,922 3,958 3, % -2.9% Bangladesh % -5.0% Brunei 1,350 1,350 1,100 1,100 1,100 1,100 1, % -1.5% China 24,000 18,250 20,350 20,350 23,717 24,376 24, % 0.2% India 4,728 5,615 5,533 5,410 5,476 5,654 5, % 1.3% Indonesia 4,980 4,301 3,990 3,885 3,700 3,591 3, % -2.4% Japan % -2.1% Malaysia 3,900 3,000 4,000 4,000 4,000 4,000 4, % 0.2% Myanmar % 0.0% New Zealand % -4.4% Pakistan % 4.2% Papua New Guinea % -5.0% Philippines % -5.1% Taiwan % -3.6% Thailand % 1.9% Vietnam 1,950 3,119 4,400 4,400 4,400 4,400 4, % 6.0% y/y ( ) CAGR ( ) Americas 329, , , , , , , % 3.7% Argentina 3,071 2,321 2,504 2,505 2,805 2,820 2, % -1.9% Barbados % -1.2% Belize % Bolivia % -4.5% Brazil 8,100 11,243 12,858 13,987 13,154 13,219 13, % 3.7% Canada 181, , , , , , , % -0.4% Chile % 0.0% Colombia 1,972 1,542 1,900 1,988 2,200 2,377 2, % 1.5% Cuba % -5.7% Ecuador 4,566 5,180 7,206 8,235 8,235 8,832 8, % 4.3% Guatemala % -12.4% Mexico 28,260 12,882 10,420 10,359 10,264 10,073 9, % -7.3% Peru % 6.4% Suriname % 1.3% Trinidad and Tobago % 0.4% United States (**) 23,517 23,019 25,181 28,950 33,403 36,520 41, % 4.1% Venezuela 76,848 80, , , , , , % 10.2% Data source: Eni s estimates on Enerdata Global Energy & CO2 Data (**) Data source: Eni s estimates on EIA DOE data 5

18 Oil Reserves Cluster of Companies World: 1,239,374 million barrels as at 31 st December World: 1,659,372 million barrels as at 31 st December 2014 (million barrels as at 31 st December ) Majors: BP, Chevron, Eni, ExxonMobil, Repsol, Shell, Total. IOCs: BG, BHP Billiton, ConocoPhillips, OMV, Statoil, Woodside Petroleum. NOCs: ADNOC, Bahrain NOC, Bashneft, CBNOOC, CNPC, CPC Taiwan, Dubai Petroleum, Ecopetrol, EGPC, Gazprom, INOC, Israel NOC, KazMunaiGaz, KNOC, KPC, Lybian NOC, MEDCO Energy, MOGE, Morocco NOC, Mu-badala Abu-Dhabi, NIOC, NNPC, Novatek, Oil India, ONGC, Pakistan Oil Field, Pakistan Petroleum, PDO, PdVSA, Pemex, Pertamina, Petrobras, PetroChina, Petronas, PetroVietnam, PGNiG, PTTEP, QP, Rosneft, Saudi Aramco, Sinopec, SOCAR Azerbaijan, Sonangol, Sonatrach, Surgutneftegas, Syria Petroleum, Tatneft, Turkmengas, Uzbekneftegas 6

19 Oil Production Areas and Aggregates Crude and non conventional oil, natural gas liquids (thousand barrels/day) Δ Y/Y ( ) CAGR ( ) Europe 7,098 5,960 4,406 4,015 3,711 3,556 3, % -4.8% Russia and Central Asia 7,864 11,703 13,436 13,483 13,511 13,775 13, % 4.1% Middle East 23,510 25,556 25,367 27,609 28,170 28,059 28, % 1.4% Africa 7,803 9,913 10,339 9,122 9,816 9,069 8, % 0.7% Asia - Pacific 7,941 8,053 8,456 8,334 8,359 8,214 8, % 0.2% Americas 20,970 20,982 21,412 22,039 23,194 24,530 26, % 1.7% - North America 10,726 10,115 11,079 11,599 12,844 14,211 16, % 2.9% - Latin America 10,244 10,867 10,333 10,440 10,349 10,319 10, % 0.1% World 75,186 82,167 83,416 84,601 86,762 87,204 89, % 1.2% European Union 3,570 2,802 2,079 1,792 1,606 1,540 1, % -6.0% MENA 27,223 29,959 29,561 30,565 32,084 31,384 31, % 1.0% OECD 21,859 20,160 18,865 18,903 19,804 20,906 22, % 0.3% NON OECD 53,327 62,007 64,551 65,697 66,958 66,297 66, % 1.6% OPEC 30,769 34,781 34,666 35,758 37,513 36,718 36, % 1.3% NON OPEC 44,418 47,385 48,750 48,843 49,249 50,485 52, % 1.2% World Oil Production (2014) 89,080 thousand barrels/day World Oil Reserves Growth ( ) 419,998 million barrels as at 31 st December World Oil Production Growth ( ) 13,893 thousand barrels/day Data source: Eni calculations on Monthly Oil Data Services OECD/International Energy Agency,

20 Oil Production The World Top 10 Producers Crude and non conventional oil, natural gas liquids (thousand barrels/day) Δ Y/Y ( ) CAGR ( ) United States 8,005 7,075 7,747 8,072 9,104 10,237 11, % 2.8% Saudi Arabia 9,348 10,893 9,972 11,214 11,738 11,586 11, % 1.6% Russia 6,527 9,636 10,453 10,601 10,682 10,869 10, % 3.8% Canada 2,722 3,041 3,332 3,526 3,740 3,974 4, % 3.2% China 3,261 3,638 4,078 4,101 4,175 4,176 4, % 1.8% United Arab Emirates 2,622 2,995 2,831 3,214 3,385 3,503 3, % 2.2% Iran 3,760 4,225 4,215 4,164 3,551 3,289 3, % -0.6% Iraq 2,582 1,833 2,430 2,743 3,031 3,163 3, % 2.0% Kuwait 2,160 2,548 2,498 2,771 2,985 3,109 3, % 2.6% Mexico 3,452 3,768 2,961 2,945 2,922 2,891 2, % -1.5% The World Top 10 44,438 49,654 50,517 53,351 55,313 56,797 59, % 2.1% Rest of the World 30,748 32,513 32,899 31,249 31,449 30,406 29, % -0.2% World 75,186 82,167 83,416 84,601 86,762 87,204 89, % 1.2% The World Top 10 (2014) Share of World Total Mexico Kuwait Iraq 3.1% 3.5% 3.8% 3.9% 4.0% 4.7% Iran UAE China Canada Russia Saudi Arabia United States 4.7% 12.3% 13.1% 13.3% Data source: Monthly Oil Data Services OECD/International Energy Agency,

21 Oil Production Countries Crude and non conventional oil, natural gas liquids (thousand barrels/day) Δ Y/Y ( ) CAGR ( ) Europe 7,098 5,960 4,406 4,015 3,711 3,556 3, % -4.8% Albania % 9.5% Austria % 0.6% Belarus % -2.1% Bulgaria % 5.1% Croatia % -4.3% Czech Republic % -3.0% Denmark % -5.5% Estonia % 8.0% France % -4.4% Germany % -1.6% Greece % -10.5% Hungary % -4.8% Italy % 2.8% Netherlands % -1.2% Norway 3,331 2,961 2,137 2,040 1,917 1,838 1, % -4.0% Poland % 5.2% Romania % -2.9% Serbia and Montenegro % -0.9% Slovakia % 10.0% Spain % 7.5% Turkey % -0.8% Ukraine % -2.0% United Kingdom 2,694 1,845 1,365 1, % -7.7% Δ Y/Y ( ) CAGR ( ) Russia and Central Asia 7,864 11,703 13,436 13,483 13,511 13,775 13, % 4.1% Russia 6,527 9,636 10,453 10,601 10,682 10,869 10, % 3.8% Azerbaijan , % 8.4% Georgia % -9.2% Kazakhstan 718 1,295 1,655 1,680 1,665 1,713 1, % 6.3% Kyrgyzstan % -0.8% Tajikistan % 1.8% Turkmenistan % 3.4% Uzbekistan % -6.6% Δ Y/Y ( ) CAGR ( ) Middle East 23,510 25,556 25,367 27,609 28,170 28,059 28, % 1.4% Bahrain % -0.3% Iran 3,760 4,225 4,215 4,164 3,551 3,289 3, % -0.6% Iraq 2,582 1,833 2,430 2,743 3,031 3,163 3, % 2.0% Kuwait 2,160 2,548 2,498 2,771 2,985 3,109 3, % 2.6% Oman % -0.1% Qatar 860 1,216 1,668 1,814 2,011 2,056 2, % 6.3% Saudi Arabia 9,348 10,893 9,972 11,214 11,738 11,586 11, % 1.6% Syria % -18.5% United Arab Emirates 2,622 2,995 2,831 3,214 3,385 3,503 3, % 2.2% Yemen % -7.7% Data source: Monthly Oil Data Services OECD/International Energy Agency,

22 Oil Production Countries Crude and non conventional oil, natural gas liquids (thousand barrels/day) Δ Y/Y ( ) CAGR ( ) Africa 7,803 9,913 10,339 9,122 9,816 9,069 8, % 0.7% Algeria 1,436 1,931 1,720 1,672 1,619 1,573 1, % 0.7% Angola 745 1,245 1,820 1,732 1,854 1,792 1, % 6.2% Cameroon % -2.8% Chad % Congo % 0.4% Côte d'ivoire % 10.2% Dem. Rep. Congo % 0.0% Egypt % -0.3% Equatorial Guinea % 6.4% Gabon % -1.1% Ghana % 21.5% Libya 1,471 1,721 1, , % -7.5% Mauritania % Morocco % -1.6% Niger % Nigeria 2,160 2,546 2,609 2,700 2,628 2,455 2, % 0.8% South Africa % -4.1% Sudan % 3.0% Tunisia % -1.9% Data source: Monthly Oil Data Services OECD/International Energy Agency, 2015 Δ Y/Y ( ) CAGR ( ) Asia - Pacific 7,941 8,053 8,456 8,334 8,359 8,214 8, % 0.2% Australia % -4.5% Bangladesh % 0.2% Brunei % -3.1% China 3,261 3,638 4,078 4,101 4,175 4,176 4, % 1.8% East Timor % India % 0.9% Indonesia 1,459 1, % -3.9% Japan % -2.0% Malaysia % -0.4% Mongolia % 26.8% Myanmar % 1.7% New Zealand % 0.3% Pakistan % 0.5% Papua New Guinea % -4.4% Philippines % 30.9% South Korea % 3.0% Taiwan % Thailand % 6.4% Vietnam % -0.6% Δ Y/Y ( ) CAGR ( ) Americas 20,970 20,982 21,412 22,039 23,194 24,530 26, % 1.7% Argentina % -2.0% Barbados % -2.5% Bolivia % 3.2% Brazil 1,271 1,705 2,150 2,205 2,161 2,124 2, % 4.4% Canada 2,722 3,041 3,332 3,526 3,740 3,974 4, % 3.2% Chile % -0.3% Colombia , % 2.7% Cuba % -0.5% Ecuador % 2.2% Guatemala % -6.5% Mexico 3,452 3,768 2,961 2,945 2,922 2,891 2, % -1.5% Peru % 3.7% Suriname % 3.0% Trinidad and Tobago % -1.7% United States 8,005 7,075 7,747 8,072 9,104 10,237 11, % 2.8% Venezuela 3,220 3,093 2,775 2,751 2,733 2,722 2, % -1.3% 10

23 Oil Production Cluster of Companies World: 75,186 thousand barrels/day World: 89,080 thousand barrels/day 2014 (thousand barrels/day) Majors: BP, Chevron, Eni, ExxonMobil, Repsol, Shell, Total. IOCs: BG, BHP Billiton, ConocoPhillips, OMV, Statoil, Woodside Petroleum. NOCs: ADNOC, Bahrain NOC, Bashneft, CBNOOC, CNPC, CPC Taiwan, Dubai Petroleum, Ecopetrol, EGPC, Gazprom, INOC, Israel NOC, KazMunaiGaz, KNOC, KPC, Lybian NOC, MEDCO Energy, MOGE, Morocco NOC, Mu-badala Abu-Dhabi, NIOC, NNPC, Novatek, Oil India, ONGC, Pakistan Oil Field, Pakistan Petroleum, PDO, PdVSA, Pemex, Pertamina, Petrobras, PetroChina, Petronas, PetroViet-nam, PGNiG, PTTEP, QP, Rosneft, Saudi Aramco, Sinopec, SOCAR Azerbaijan, Sonangol, Sonatrach, Surgutneftegas, Syria Petroleum, Tatneft, Turkmengas, Uzbekneftegas 11

24 Oil Production The World Top 10 Natural Gas Liquids Producers (thousand barrels/day) Δ Y/Y ( ) CAGR ( ) United States 1,911 1,717 2,074 2,216 2,408 2,572 2, % 3.2% Saudi Arabia 1,011 1,460 1,710 1,775 1,870 1,839 1, % 4.3% Qatar ,039 1,136 1,175 1, % 14.7% United Arab Emirates % 5.6% Canada % -0.5% Iran % 16.4% Nigeria % 10.9% Algeria % -2.3% Mexico % -1.5% Russia % 14.5% The World Top 10 5,499 6,487 7,990 8,568 8,901 9,154 9, % 4.2% Rest of the world 1,773 2,321 2,625 2,551 2,515 2,569 2, % 2.7% World 7,272 8,808 10,615 11,119 11,416 11,723 12, % 3.8% The World Top 10 (2014) Data source: Monthly Oil Data Services OECD/International Energy Agency,

25 Oil Biofuels Production Total Biofuels (thousand barrels/day) 2013 World World: 2,022 thousand barrels/day Biogasoline (thousand barrels/day) 2013 World World: 1,253 thousand barrels/day Biodiesel (thousand barrels/day) 2013 World World: 515 thousand barrels/day Data source: IEA Extended Balances OECD/International Energy Agency, 2015 Total Biofuels include biogasoline, biodiesel and other biofuels (among others, ethanol used pure in Brazil "Hydrous" and vegetable oil used pure in Germany) 13

26 Oil Reserves/Production Ratio Areas and Aggregates (years) Europe Russia and Central Asia Middle East Africa Asia - Pacific Americas North America Latin America World European Union MENA OECD NON OECD OPEC NON OPEC Reserves/Production Ratio (2014) 51 years Data source: Eni s calculations. The original data are from Enerdata Global Energy &CO2 Data, Monthly Oil Data Services OECD/International Energy Agency, 2015 and other sources 14

27 Oil Reserves/Production Ratio The World Top 10 Producers Ranked by Reserves/Production Ratio (years) Iran Iraq Canada Kuwait United Arab Emirates Saudi Arabia Russia China United States (**) Mexico The World Top 10 (2014) Data source: Eni s calculations. The original data are from Enerdata Global Energy & CO2 Data and Monthly Oil Data Services OECD/International Energy Agency, 2015 (**) The original data are from EIA DOE and Monthly Oil Data Services OECD/International Energy Agency,

28 Oil Reserves/Production Ratio Countries (years) Europe Albania Austria Belarus Bulgaria Croatia Czech Republic Denmark France Germany Greece Hungary Italy (**) Netherlands Norway Poland Romania Serbia and Montenegro Slovakia Spain Turkey Ukraine United Kingdom Russia and Central Asia Russia Azerbaijan Georgia Kazakhstan Kyrgyzstan Tajikistan Turkmenistan Uzbekistan Middle East Bahrain Iran Iraq Kuwait Oman Qatar Saudi Arabia Syria United Arab Emirates Yemen Data source: Eni s calculations. The original data are from Enerdata Global Energy & CO2 Data, Monthly Oil Data Services OECD/International Energy Agency, 2015 and other sources (**) The original data are from Italian Ministry for Economic Development and Monthly Oil Data Services OECD/International Energy Agency,

29 Oil Reserves/Production Ratio Countries (years) Africa Algeria Angola Cameroon Chad Congo Côte d'ivoire Dem. Rep. Congo Egypt Equatorial Guinea Gabon Ghana Libya Mauritania Morocco Nigeria Sudan Tunisia Asia - Pacific Australia Bangladesh Brunei China India Indonesia Japan Malaysia Myanmar New Zealand Pakistan Papua New Guinea Philippines Taiwan Thailand Vietnam Data source: Eni s calculations. The original data are from Enerdata Global Energy & CO2 Data and Monthly Oil Data Services OECD/International Energy Agency,

30 Oil Reserves/Production Ratio Countries (years) Americas Argentina Barbados Bolivia Brazil Canada Chile Colombia Cuba Ecuador Guatemala Mexico Peru Suriname Trinidad and Tobago United States (**) Venezuela Data source: Eni s calculations. The original data are from Enerdata Global Energy & CO2 Dat and Monthly Oil Data Services OECD/International Energy Agency, 2015 (**) The original data are from EIA DOE and Monthly Oil Data Services OECD/International Energy Agency,

31 Oil Consumption Areas and Aggregates (thousand barrels/day) Δ y/y ( ) CAGR ( ) Europe 16,345 16,981 15,909 15,507 15,013 14,892 14, % -0.8% Russia and Central Asia 3,300 3,354 3,662 3,976 4,045 4,203 4, % 1.9% Middle East 4,967 6,120 7,552 7,718 8,036 8,160 8, % 3.8% Africa 2,472 2,933 3,622 3,580 3,777 3,824 3, % 3.3% Asia - Pacific 21,001 24,295 27,716 28,506 29,678 30,055 30, % 2.7% Americas 29,093 30,878 30,238 30,217 30,016 30,725 30, % 0.4% - North America 22,007 23,437 21,760 21,558 21,168 21,704 21, % -0.1% - Latin America 7,087 7,441 8,479 8,658 8,848 9,021 9, % 1.8% World 77,179 84,562 88,700 89,502 90,563 91,859 92, % 1.3% European Union 14,664 15,164 14,066 13,647 13,162 12,993 12, % -1.0% MENA 6,221 7,577 9,357 9,429 9,890 10,031 10, % 3.7% OECD 48,514 50,403 46,966 46,419 45,928 46,095 45, % -0.4% NON OECD 28,665 34,159 41,734 43,084 44,635 45,764 46, % 3.6% OPEC 5,486 6,789 8,472 8,452 8,917 9,069 9, % 3.8% NON OPEC 71,694 77,772 80,227 81,050 81,646 82,790 83, % 1.1% World Oil Consumption (2014) 92,519 thousand barrels/day World Oil Consumption Growth ( ) 15,340 thousand barrels/day Data source: Eni s calculations on Monthly Oil Data Services OECD/International Energy Agency, 2015 data 19

32 Oil Consumption The World Top 10 Consumers (thousand barrels/day) Δ y/y ( ) CAGR ( ) United States 19,999 21,168 19,476 19,248 18,814 19,265 19, % -0.2% China 4,642 6,748 8,990 9,378 9,819 10,118 10, % 5.9% Japan 5,480 5,298 4,429 4,443 4,705 4,521 4, % -1.7% India 2,336 2,632 3,429 3,578 3,755 3,774 3, % 3.7% Russia 2,702 2,732 3,082 3,357 3,395 3,533 3, % 2.1% Brazil 2,135 2,173 2,774 2,869 2,968 3,096 3, % 3.0% Saudi Arabia 1,571 1,941 2,674 2,777 2,969 3,019 3, % 5.3% Canada 2,008 2,269 2,283 2,310 2,354 2,439 2, % 1.3% Germany 2,767 2,624 2,467 2,392 2,389 2,435 2, % -1.0% South Korea 2,135 2,191 2,269 2,259 2,322 2,324 2, % 0.7% The World Top 10 45,774 49,776 51,873 52,612 53,489 54,526 55, % 1.3% Rest of the World 31,405 34,785 36,827 36,890 37,074 37,334 37, % 1.2% World 77,179 84,562 88,700 89,502 90,563 91,859 92, % 1.3% The World Top 10 (2014) Data source: Monthly Oil Data Services OECD/International Energy Agency,

33 Oil Consumption Countries (thousand barrels/day) Δ y/y ( ) CAGR ( ) Europe 16,345 16,981 15,909 15,507 15,013 14,892 14, % -0.8% Albania % 0.5% Austria % 0.3% Belarus % 2.1% Belgium % 0.1% Bosnia Herzegovina % 2.6% Bulgaria % -0.1% Croatia % -0.9% Cyprus % -0.3% Czech Republic % 1.2% Denmark % -2.2% Estonia % 3.0% Finland % -0.6% France 2,001 1,990 1,833 1,793 1,772 1,767 1, % -1.1% Germany 2,767 2,624 2,467 2,392 2,389 2,435 2, % -1.0% Gibraltar % 7.4% Greece % -2.4% Hungary % -0.1% Iceland % -0.6% Ireland % -1.3% Italy 1,854 1,781 1,544 1,494 1,370 1,315 1, % -2.9% Latvia % 1.1% Lithuania % 2.0% Luxembourg % 1.2% Macedonia % 0.4% Malta % 3.1% Moldova % 5.9% Netherlands 855 1,009 1,020 1,019 1, % 0.8% Norway % 0.6% Poland % 1.6% Portugal % -2.2% Romania % -0.7% Serbia and Montenegro % 6.8% Slovakia % 0.7% Slovenia % -0.2% Spain 1,433 1,607 1,441 1,385 1,301 1,205 1, % -1.2% Sweden % -1.4% Switzerland % -1.0% Turkey % 0.4% Ukraine % 0.2% United Kingdom 1,765 1,819 1,620 1,578 1,528 1,507 1, % -1.1% Δ y/y ( ) CAGR ( ) Russia and Central Asia 3,300 3,354 3,662 3,976 4,045 4,203 4, % 1.9% Russia 2,702 2,732 3,082 3,357 3,395 3,533 3, % 2.1% Armenia % 2.4% Azerbaijan % -2.7% Georgia % 0.4% Kazakhstan % 2.0% Kyrgyzstan % 8.9% Tajikistan % -3.0% Turkmenistan % 5.5% Uzbekistan % -2.3% Data source: Monthly Oil Data Services OECD/International Energy Agency,

34 Oil Consumption Countries (thousand barrels/day) Δ y/y ( ) CAGR ( ) Middle East 4,967 6,120 7,552 7,718 8,036 8,160 8, % 3.8% Bahrain % 5.5% Iran 1,377 1,679 1,831 1,798 1,799 1,821 1, % 2.0% Iraq % 3.5% Israel % -0.5% Jordan % 3.0% Kuwait % 5.3% Lebanon % 3.3% Oman % 8.8% Qatar % 12.0% Saudi Arabia 1,571 1,941 2,674 2,777 2,969 3,019 3, % 5.3% Syria % -1.1% United Arab Emirates % 4.2% Yemen % 2.2% Δ y/y ( ) CAGR ( ) Africa 2,472 2,933 3,622 3,580 3,777 3,824 3, % 3.3% Algeria % 4.3% Angola % 9.3% Benin % 10.6% Cameroon % 4.6% Congo % 10.6% Côte d'ivoire % 2.1% Dem. Rep. Congo % 6.2% Egypt % 3.6% Ethiopia % 7.0% Gabon % 2.5% Ghana % 7.1% Kenya % 2.8% Libya % -0.6% Morocco % 5.2% Mozambique % 5.1% Nigeria % 1.8% Senegal % 1.7% South Africa % 2.2% Sudan % 6.9% Tanzania % 8.3% Tunisia % 0.2% Zambia % 4.6% Zimbabwe % -3.2% Others Africa % 3.6% Data source: Monthly Oil Data Services OECD/International Energy Agency,

35 Oil Consumption Countries (thousand barrels/day) Δ y/y ( ) CAGR ( ) Asia - Pacific 21,001 24,295 27,716 28,506 29,678 30,055 30, % 2.7% Australia ,005 1,048 1,073 1,082 1, % 1.6% Bangladesh % 4.2% Brunei % 2.6% China 4,642 6,748 8,990 9,378 9,819 10,118 10, % 5.9% Hong Kong % 2.8% India 2,336 2,632 3,429 3,578 3,755 3,774 3, % 3.7% Indonesia 1,153 1,342 1,527 1,619 1,726 1,780 1, % 3.3% Japan 5,480 5,298 4,429 4,443 4,705 4,521 4, % -1.7% Malaysia % 3.1% Myanmar % 2.0% Nepal % 4.3% New Zealand % 1.1% North Korea % -1.8% Pakistan % 1.3% Philippines % -0.3% Singapore ,163 1,230 1,219 1,244 1, % 4.0% South Korea 2,135 2,191 2,269 2,259 2,322 2,324 2, % 0.7% Sri Lanka % 3.2% Taiwan , % 0.9% Thailand 748 1,008 1,128 1,180 1,249 1,263 1, % 3.9% Vietnam % 8.3% Others Asia - Pacific % 6.3% Δ y/y ( ) CAGR ( ) Americas 29,093 30,878 30,238 30,217 30,016 30,725 30, % 0.4% Argentina % 2.4% Bolivia % 5.0% Brazil 2,135 2,173 2,774 2,869 2,968 3,096 3, % 3.0% Canada 2,008 2,269 2,283 2,310 2,354 2,439 2, % 1.3% Chile % 2.2% Colombia % 1.4% Costa Rica % 2.6% Cuba % -0.5% Dominican Republic % -0.3% Ecuador % 4.3% El Salvador % 1.8% Guatemala % 1.6% Haiti % 3.7% Honduras % 4.7% Jamaica % -1.7% Mexico 2,096 2,117 2,080 2,113 2,086 2,044 1, % -0.5% Netherlands Antilles % 0.9% Nicaragua % 1.9% Panama % 3.7% Paraguay % 4.6% Peru % 3.0% Trinidad and Tobago % 3.1% United States 19,999 21,168 19,476 19,248 18,814 19,265 19, % -0.2% Uruguay % 3.5% Venezuela % 2.9% Others Americas % 1.4% Data source: Monthly Oil Data Services OECD/International Energy Agency,

36 Oil Per Capita Consumption Areas and Aggregates (barrels) Europe Russia and Central Asia Middle East Africa Asia - Pacific Americas North America Latin America World European Union MENA OECD NON OECD OPEC NON OPEC Per Capita Consumption (2014) Data source: Eni s calculations. The original data are from Monthly Oil Data Services OECD/International Energy Agency, 2015 and IHS Global Insight 24

37 Oil Per Capita Consumption The World Top 10 Consumers Ranked by Per Capita Consumption (barrels) Saudi Arabia Canada United States South Korea Japan Germany Russia Brazil China India The World Top 10 (2014) Data source: Eni s calculations. The original data are from Monthly Oil Data Services OECD/International Energy Agency, 2015 and IHS Global Insight 25

38 Oil Per Capita Consumption Countries (barrels) Europe Albania Austria Belarus Belgium Bosnia Herzegovina Bulgaria Croatia Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Iceland Ireland Italy Latvia Lithuania Luxembourg Macedonia Malta Moldova Netherlands Norway Poland Portugal Romania Serbia and Montenegro Slovakia Slovenia Spain Sweden Switzerland Turkey Ukraine United Kingdom Russia and Central Asia Russia Armenia Azerbaijan Georgia Kazakhstan Kyrgyzstan Tajikistan Turkmenistan Uzbekistan Data source: Eni s calculations. The original data are from Monthly Oil Data Services OECD/International Energy Agency, 2015 and IHS Global Insight 26

39 Oil Per Capita Consumption Countries (barrels) Middle East Bahrain Iran Iraq Israel Jordan Kuwait Lebanon Oman Qatar Saudi Arabia Syria United Arab Emirates Yemen Africa Algeria Angola Benin Cameroon Congo Côte d'ivoire Dem. Rep. Congo Egypt Ethiopia Gabon Ghana Kenya Libya Morocco Mozambique Nigeria Senegal South Africa Sudan Tanzania Tunisia Zambia Zimbabwe Data source: Eni s calculations. The original data are from Monthly Oil Data Services OECD/International Energy Agency, 2015 and IHS Global Insight 27

40 Oil Per Capita Consumption Countries (barrels) Asia - Pacific Australia Bangladesh Brunei China Hong Kong India Indonesia Japan Malaysia Myanmar Nepal New Zealand North Korea Pakistan Philippines Singapore South Korea Sri Lanka Taiwan Thailand Vietnam Americas Argentina Bolivia Brazil Canada Chile Colombia Costa Rica Cuba Dominican Republic Ecuador El Salvador Guatemala Haiti Honduras Jamaica Mexico Netherlands Antilles Nicaragua Panama Paraguay Peru Trinidad and Tobago United States Uruguay Venezuela Data source: Eni s calculations. The original data are from Monthly Oil Data Services OECD/International Energy Agency, 2015 and IHS Global Insight 28

41 Oil Production/Consumption Ratio Areas and Aggregates Europe Russia and Central Asia Middle East Africa Asia - Pacific Americas North America Latin America World European Union MENA OECD NON OECD OPEC NON OPEC Production/Consumption Ratio (2014) Data source: Eni s calculations. The original data are from Monthly Oil Data Services OECD/International Energy Agency,

42 Oil Production/Consumption Ratio The World Top 10 Producers Ranked by Production/Consumption Ratio Kuwait United Arab Emirates Iraq Saudi Arabia Russia Iran Canada Mexico United States China The World Top 10 (2014) Data source: Eni s calculations. The original data are from Monthly Oil Data Services OECD/International Energy Agency,

43 Oil Production/Consumption Ratio Countries Europe Albania Austria Belarus Bulgaria Croatia Czech Republic Denmark Estonia France Germany Greece Hungary Italy Netherlands Norway Poland Romania Serbia and Montenegro Slovakia Spain Turkey Ukraine United Kingdom Russia and Central Asia Russia Azerbaijan Georgia Kazakhstan Kyrgyzstan Tajikistan Turkmenistan Uzbekistan Middle East Bahrain Iran Iraq Kuwait Oman Qatar Saudi Arabia Syria United Arab Emirates Yemen Data source: Eni s calculations. The original data are from Monthly Oil Data Services OECD/International Energy Agency,

44 Oil Production/Consumption Ratio Countries Africa Algeria Angola Cameroon Congo Côte d'ivoire Dem. Rep. Congo Egypt Gabon Ghana Libya Nigeria South Africa Sudan Tunisia Asia - Pacific Australia Bangladesh Brunei China India Indonesia Malaysia Myanmar New Zealand Pakistan Philippines South Korea Thailand Vietnam Americas Argentina Bolivia Brazil Canada Chile Colombia Cuba Ecuador Guatemala Mexico Peru Trinidad and Tobago United States Venezuela Data source: Eni s calculations. The original data are from Monthly Oil Data Services OECD/International Energy Agency,

45 Oil Crude Future Prices and Open Interests Ice Brent Price 1 Month WTI vs Brent 1 Month Differential (US$/barrel) (US$/barrel) Ice Brent Open Interests CME WTI Open Interests (no. contracts) (no. contracts) 320, , , , , , , , , , , ,000 80,000 80,000 40,000 40, Data source: ICE London and CME New York 33

46

47 natural gas Reserves Production Reserves/Production Ratio Consumption Per Capita Consumption Production/Consumption Ratio Exports Imports Traded Gas LNG - Liquefaction and Regasification Capacity Natural Gas Balance - Italy World Oil and Gas Review 2015

48 Natural Gas Reserves Areas and Aggregates (billion cubic metres as at 31 st December) y/y ( ) CAGR ( ) Europe 8,540 7,336 6,364 5,704 5,590 5,369 5, % -3.6% Russia and Central Asia 51,507 52,618 60,949 63,625 63,677 64,150 64, % 1.6% Middle East 59,811 72,493 79,376 79,928 80,131 80,087 80, % 2.1% Africa 12,460 14,223 14,527 14,598 14,543 14,470 14, % 1.1% Asia - Pacific 12,247 14,134 16,469 16,818 17,036 16,982 17, % 2.4% Americas 14,418 14,651 18,210 19,026 18,461 19,666 20, % 2.4% - North America 6,704 7,416 10,321 11,114 10,417 11,670 12, % 4.3% - Latin America 7,714 7,235 7,889 7,912 8,043 7,996 7, % 0.2% World 158, , , , , , , % 1.7% European Union 3,606 3,144 2,582 2,000 1,892 1,714 1, % -5.9% MENA 67,162 80,448 87,653 88,236 88,436 88,348 88, % 2.0% OECD 17,059 16,049 19,611 20,189 19,365 20,372 20, % 1.3% NON OECD 141, , , , , , , % 1.8% OPEC 72,444 86,659 94,257 94,928 95,132 95,034 95, % 2.0% NON OPEC 86,539 88, , , , , , % 1.5% World Natural Gas Reserves (2014) 201,771 billion cubic metres as at 31 st December World Natural Gas Reserves Growth ( ) 42,788 billion cubic metres as at 31 st December Data source: Eni s estimates on Enerdata Global Energy & CO2 Data and other sources data 36

49 Natural Gas Reserves The World Top 10 Reserves Holders (billion cubic metres as at 31 st December) y/y ( ) CAGR ( ) Russia 43,809 44,860 46,000 48,676 48,810 49,335 49, % 0.9% Iran 26,600 27,580 33,090 33,620 33,780 34,020 34, % 1.8% Qatar 14,443 25,636 25,201 25,110 25,069 24,681 24, % 3.9% United States (**) 5,021 5,784 8,621 9,454 8,717 9,573 9, % 5.0% Turkmenistan 2,680 2,680 10,000 10,000 9,967 9,934 9, % 9.8% Saudi Arabia 6,301 6,900 8,016 8,151 8,235 8,317 8, % 2.2% United Arab Emirates 6,060 6,060 6,091 6,091 6,091 6,091 6, % 0.0% Venezuela 4,152 4,315 5,525 5,528 5,563 5,581 5, % 2.2% Nigeria 4,106 5,152 5,110 5,154 5,118 5,111 5, % 1.6% Algeria 4,523 4,504 4,504 4,504 4,504 4,504 4, % 0.0% The World Top , , , , , , , % 2.1% Rest of the World 41,288 41,984 43,737 43,411 43,583 43,577 43, % 0.4% World 158, , , , , , , % 1.7% The World top 10 (2014) Data source: Eni s estimates on Enerdata Global Energy & CO2 Data (**) Data source: Eni s estimates on EIA DOE data 37

50 Natural Gas Reserves Countries (billion cubic metres as at 31 st December) y/y ( ) CAGR ( ) Europe 8,540 7,336 6,364 5,704 5,590 5,369 5, % -3.6% Albania % 0.0% Austria % -6.7% Belarus % -9.4% Bulgaria % -1.3% Croatia % -2.5% Czech Republic % -2.0% Denmark % -3.3% France % 0.6% Germany % -11.1% Greece % 0.0% Hungary % -8.5% Ireland % -2.2% Italy (**) % -9.0% Moldova % 0.0% Netherlands 1,655 1,387 1,304 1,230 1, % -4.5% Norway (***) 3,841 3,108 2,762 2,685 2,687 2,654 2, % -2.9% Poland % -4.5% Romania % -7.7% Serbia and Montenegro % -1.6% Slovakia % -9.0% Spain % Turkey % 3.4% Ukraine 1,040 1, % -0.7% United Kingdom % -8.3% y/y ( ) CAGR ( ) Russia and Central Asia 51,507 52,618 60,949 63,625 63,677 64,150 64, % 1.6% Russia 43,809 44,860 46,000 48,676 48,810 49,335 49, % 0.9% Armenia % -14.6% Azerbaijan 1,275 1,275 1,317 1,317 1,308 1,300 1, % 0.1% Georgia % -4.8% Kazakhstan 1,840 1,900 1,950 1,950 1,939 1,929 1, % 0.3% Kyrgyzstan % -4.8% Tajikistan % -4.8% Turkmenistan 2,680 2,680 10,000 10,000 9,967 9,934 9, % 9.8% Uzbekistan 1,735 1,735 1,661 1,661 1,632 1,632 1, % -0.5% y/y ( ) CAGR ( ) Middle East 59,811 72,493 79,376 79,928 80,131 80,087 80, % 2.1% Bahrain % -1.3% Iran 26,600 27,580 33,090 33,620 33,780 34,020 34, % 1.8% Iraq 3,109 3,170 3,158 3,158 3,158 3,158 3, % 0.1% Israel % 11.9% Jordan % -1.1% Kuwait 1,557 1,572 1,784 1,784 1,784 1,784 1, % 1.0% Oman , % 3.2% Qatar 14,443 25,636 25,201 25,110 25,069 24,681 24, % 3.9% Saudi Arabia 6,301 6,900 8,016 8,151 8,235 8,317 8, % 2.2% Syria % 1.2% United Arab Emirates 6,060 6,060 6,091 6,091 6,091 6,091 6, % 0.0% Yemen % 0.0% Data source: Eni s estimates on Enerdata Global Energy & CO2 Data, for Norway on Norwegian Petroleum Directorate's data, for United Kingdom on DECC data (**) Data source: Italian Ministry for Economic Development 38

51 Natural Gas Reserves Countries (billion cubic metres as at 31 st December) y/y ( ) CAGR ( ) Africa 12,460 14,223 14,527 14,598 14,543 14,470 14, % 1.1% Algeria 4,523 4,504 4,504 4,504 4,504 4,504 4, % 0.0% Angola % 1.0% Benin % 0.0% Cameroon % 3.0% Chad % Congo % -1.0% Côte d'ivoire % -1.9% Dem. Rep. Congo % Egypt 1,433 1,920 2,210 2,190 2,185 2,185 2, % 3.0% Equatorial Guinea % 5.3% Ethiopia % 0.8% Gabon % -1.7% Ghana % 0.8% Libya 1,314 1,491 1,495 1,547 1,549 1,506 1, % 1.0% Madagascar % 0.0% Mauritania % Morocco % -7.5% Mozambique % 1.4% Namibia % -1.4% Nigeria 4,106 5,152 5,110 5,154 5,118 5,111 5, % 1.6% Rwanda % 0.0% Senegal % -11.5% Somalia % 0.0% South Africa % -3.2% Sudan % 0.0% Tanzania % 3.5% Tunisia % -1.3% Uganda % y/y CAGR ( ) ( ) Asia - Pacific 12,247 14,134 16,469 16,818 17,036 16,982 17, % 2.4% Afghanistan % 0.0% Australia 2,203 2,429 3,864 3,831 3,821 3,769 3, % 3.8% Bangladesh % 2.3% Brunei % -2.3% China 1,515 2,200 2,853 3,051 3,200 3,275 3, % 5.9% India 760 1,101 1,149 1,278 1,330 1,355 1, % 4.6% Indonesia 2,608 2,659 2,963 2,925 2,954 2,866 2, % 0.5% Japan % -1.6% Malaysia 2,189 2,346 2,334 2,389 2,550 2,611 2, % 1.5% Myanmar % 3.7% New Zealand % 0.8% Pakistan % 0.6% Papua New Guinea % 0.0% Philippines % -2.3% South Korea % Taiwan % -20.6% Thailand % -3.3% Vietnam % 1.5% Data source: Eni s estimates on Enerdata Global Energy & CO2 Data 39

52 Natural Gas Reserves Countries (billion cubic metres as at 31 st December) y/y ( ) CAGR ( ) Americas 14,418 14,651 18,210 19,026 18,461 19,666 20, % 2.4% Argentina % -6.4% Barbados % Bolivia % -5.6% Brazil % 5.6% Canada 1,683 1,632 1,700 1,660 1,700 2,097 2, % 1.7% Chile % -5.9% Colombia % 1.4% Cuba % -4.1% Ecuador % 0.6% Mexico % -6.5% Peru % 3.8% Trinidad and Tobago % -3.8% United States (**) 5,021 5,784 8,621 9,454 8,717 9,573 9, % 5.0% Venezuela 4,152 4,315 5,525 5,528 5,563 5,581 5, % 2.2% Data source: Eni s estimates on Enerdata Global Energy & CO2 Data (**) Data source: Eni s estimates on EIA DOE data 40

53 Natural Gas Reserves Cluster of Companies World: 158,983 billion cubic metres as at 31 st December World: 201,771 billion cubic metres as at 31 st December 2014 (billion cubic metres as at 31 st December) Majors: BP, Chevron, Eni, ExxonMobil, Repsol, Shell, Total. IOCs: BG, BHP Billiton, ConocoPhillips, OMV, Statoil, Woodside Petroleum. NOCs: ADNOC, Bahrain NOC, Bashneft, CBNOOC, CNPC, CPC Taiwan, Dubai Petroleum, Ecopetrol, EGPC, Gazprom, INOC, Israel NOC, KazMunaiGaz, KNOC, KPC, Lybian NOC, MEDCO Energy, MOGE, Morocco NOC, Mu-badala Abu-Dhabi, NIOC, NNPC, Novatek, Oil India, ONGC, Pakistan Oil Field, Pakistan Petroleum, PDO, PdVSA, Pemex, Pertamina, Petrobras, PetroChina, Petronas, PetroViet-nam, PGNiG, PTTEP, QP, Rosneft, Saudi Aramco, Sinopec, SOCAR Azerbaijan, Sonangol, Sonatrach, Surgutneftegas, Syria Petroleum, Tatneft, Turkmengas, Uzbekneftegas 41

54 Natural Gas Production Areas and Aggregates (billion cubic metres) y/y ( ) CAGR ( ) Europe % -1.2% Russia and Central Asia % 1.5% Middle East % 7.7% Africa % 3.0% Asia - Pacific % 4.2% Americas , , , , % 1.9% - North America % 1.5% - Latin America % 3.7% World 2, , , , , , , % 2.5% European Union % -4.0% MENA % 6.1% OECD 1, , , , , , , % 1.1% NON OECD 1, , , , , , , % 3.5% OPEC % 5.6% NON OPEC 2, , , , , , , % 1.9% World Natural Gas Production (2014) 3, billion cubic metres World Natural Gas Reserves Growth ( ) 1, billion cubic metres Data source: the original data are from IEA Extended Balances OECD/International Energy Agency, 2015 and other sources. Data have been converted by Eni using a unified gross calorific value of 39 MJ/cm 42

55 Natural Gas Production The World Top 10 Producers (billion cubic metres) y/y ( ) CAGR ( ) United States % 2.2% Russia % 0.8% Iran % 7.8% Qatar % 14.3% Canada % -0.7% China % 11.8% Norway % 5.3% Turkmenistan % 4.5% Saudi Arabia % 5.9% Algeria % -0.2% The World Top 10 1, , , , , , , % 2.7% Rest of the world , , , , , , % 2.1% World 2, , , , , , , % 2.5% The World Top 10 (2014) Share of World Total Algeria Saudi Arabia Turkmenistan 2.3% 2.4% 2.4% 3.3% 3.7% 4.6% Norawy China Canada Qatar Iran Russia United States 4.9% 4.9% 18.2% 20.7% Data source: the original data are from IEA Extended Balances OECD/International Energy Agency, Data have been converted by Eni using a unified gross calorific value of 39 MJ/cm 43

56 Natural Gas Production Countries (billion cubic metres) y/y ( ) CAGR ( ) Europe % -1.2% Albania % 7.6% Austria % -2.9% Belarus % -1.0% Bulgaria % 19.2% Croatia % 0.2% Czech Republic % 1.3% Denmark % -4.1% France % -28.9% Germany % -5.1% Greece % -13.6% Hungary % -3.8% Ireland % -13.7% Italy % -5.9% Netherlands % -0.3% Norway % 5.3% Poland % 0.8% Romania % -1.6% Serbia and Montenegro % -2.7% Slovakia % -3.2% Slovenia % -5.9% Spain % -13.1% Turkey % -2.1% Ukraine % -0.1% United Kingdom % -7.5% Δ y/y ( ) CAGR ( ) Russia and Central Asia % 1.5% Russia % 0.8% Azerbaijan % 9.9% Georgia % -17.8% Kazakhstan % 10.7% Kyrgyzstan % 0.2% Tajikistan % -15.0% Turkmenistan % 4.5% Uzbekistan % 0.4% y/y ( ) CAGR ( ) Middle East % 7.7% Bahrain % 4.3% Iran % 7.8% Iraq % 6.0% Israel % 61.0% Jordan % -4.5% Kuwait % 3.2% Oman % 7.9% Qatar % 14.3% Saudi Arabia % 5.9% Syria % -0.6% United Arab Emirates % 2.2% Yemen % Data source: Eni the original data are from IEA Extended Balances OECD/International Energy Agency, 2015 and, for Italy, from Italian Ministry for Economic Development. Data have been converted by Eni using a unified gross calorific value of 39 MJ/cm 44

57 Natural Gas Production Countries (billion cubic metres) y/y ( ) CAGR ( ) Africa % 3.0% Algeria % -0.2% Angola % 2.8% Cameroon % Congo % Côte d'ivoire % 1.7% Dem. Rep. Congo % Egypt % 7.4% Gabon % 9.0% Libya % 3.5% Morocco % 5.7% Mozambique % 80.3% Nigeria % 8.7% Senegal % 35.0% South Africa % -2.2% Tanzania % Tunisia % 2.9% y/y ( ) CAGR ( ) Asia - Pacific % 4.2% Australia % 4.5% Bangladesh % 7.3% Brunei % 0.3% China % 11.8% India % 1.4% Indonesia % 0.2% Japan % 1.0% Malaysia % 2.3% Myanmar % 6.4% New Zealand % -1.0% Pakistan % 3.0% Philippines % 51.9% South Korea % Taiwan % -5.4% Thailand % 4.4% Vietnam % 15.9% y/y ( ) CAGR ( ) Americas , , , , % 1.9% Argentina % -0.4% Bolivia % 11.5% Brazil % 8.6% Canada % -0.7% Chile % -5.1% Colombia % 4.3% Cuba % 4.5% Ecuador % Mexico % 2.8% Peru % 26.1% Trinidad and Tobago % 7.9% United States % 2.2% Venezuela % -0.7% Data source: the original data are from IEA Extended Balances OECD/International Energy Agency, Data have been converted by Eni using a unified gross calorific value of 39 MJ/cm 45

58 Natural Gas Production Cluster of Companies World: 2, billion cubic metres World: 3, billion cubic metres 2014 (billion cubic metres as at 31 st December) Majors 10% North America IOCs 5% Others 48% Europe Majors 31% Others 10% Russia and C. Asia Majors 5% IOCs 0% Others 84% NOCs 1% NOCs 2% IOCs 18% Others 10% Middle East Majors 11% IOCs 1% NOCs 85% Others 5% Latin America Majors 22% Others 1% Africa Majors 26% NOCs 79% Others 25% Asia - Pacific Majors 17% NOCs 70% IOCs 3% NOCs 69% IOCs 4% NOCs 51% IOCs 8% Majors: ExxonMobil, Shell, BP, Chevron, Total, Eni, Repsol. IOC s: ConocoPhillips, Statoil, BG, BHP Billiton, OMV e Woodside Petroleum. NOCs: NIOC, Saudi Aramco, INOC, ADNOC, QP, KPC, PDO, Bahrain NOC, Dubai Petroleum, Israel NOC, Mubadala Abu-Dhabi, Syria Petroleum, NNPC, Lybian NOC, Sonatrach, EGPC, Sonangol, Morocco NOC, Gazprom, Rosneft, Surgutneftegas, Tatneft, Bashneft, Novatek, SOCAR Azerbaijan, KazMunaiGaz, Turkmengas, Uzbekneftegas, PdVSA, Petrobras, Pemex, Ecopetrol, Petronas, Oil India, Pertamina, MEDCO Energy, MOGE, CPC Taiwan, Pakistan Petroleum, Pakistan Oil Field, KNOC, PetroVietnam, CNPC/PetroChina, Sinopec, CBNOOC, ONGC, PTTEP, PGNiG 46

59 Natural Gas Reserves/Production Ratio Areas and Aggregates (years) Europe Russia and Central Asia Middle East Africa Asia - Pacific Americas North America Latin America World European Union MENA OECD NON OECD OPEC NON OPEC Reserves/Production Ratio (2014) World: 58 years Data source: Eni s calculations. The original data are from Enerdata Global Energy & CO2 Data, IEA Extended Balances OECD/International Energy Agency, 2015 and other sources 47

60 Natural Gas Reserves/Production Ratio The World Top 10 Producers Ranked by Reserves/Production Ratio (years) Iran Qatar Turkmenistan Saudi Arabia Russia Algeria China Norway United States (**) Canada The World Top 10 (2014) Data source: Eni s calculations. The original data are from Enerdata Global Energy & CO2 Data and IEA Extended Balances OECD/International Energy Agency, 2015 (**) The original data are from EIA DOE and IEA Extended Balances OECD/International Energy Agency,

61 Natural Gas Reserves/Production Ratio Countries (years) Europe Austria Croatia Denmark France Germany Hungary Ireland Italy (**) Netherlands Norway Poland Romania Serbia and Montenegro Turkey Ukraine United Kingdom (***) Russia and Central Asia Russia Azerbaijan Kazakhstan Turkmenistan Uzbekistan Middle East Bahrain Iran Kuwait Oman Qatar Saudi Arabia Syria United Arab Emirates Data source: Eni s calculations. The original data are from Enerdata Global Energy &CO2 Data, IEA Extended Balances OECD/International Energy Agency, 2015 and other sources (**) The original data are from Italian Ministry for Economic Development 49

62 Natural Gas Reserves/Production Ratio Countries (years) Africa Algeria Angola Côte d'ivoire Egypt Libya Morocco Mozambique Nigeria South Africa Tanzania Tunisia Asia - Pacific Australia Bangladesh Brunei China India Indonesia Japan Malaysia Myanmar New Zealand Pakistan Taiwan Thailand Vietnam Americas Argentina Bolivia Brazil Canada Chile Colombia Mexico Trinidad and Tobago United States (**) Venezuela Data source: Eni s calculations. The original data are from Enerdata Global Energy & CO2 Data and IEA Extended Balances OECD/International Energy Agency, 2015 (**) The original data are from EIA DOE and IEA Extended Balances OECD/International Energy Agency,

63 Natural Gas Consumption Areas and Aggregates (billion cubic metres) y/y ( ) CAGR ( ) Europe % -0.9% Russia and Central Asia % 1.6% Middle East % 6.8% Africa % 5.3% Asia - Pacific % 6.0% Americas , , , % 1.6% - North America % 1.0% - Latin America % 4.4% World 2, , , , , , , % 2.4% European Union % -1.0% MENA % 6.5% OECD 1, , , , , , , % 1.1% NON OECD 1, , , , , , , % 3.8% OPEC % 5.8% NON OPEC 2, , , , , , , % 2.0% World Natural Gas Consumption (2014) 3, billion cubic metres World Natural Gas Consumption Growth ( ) billion cubic metres Data source: the original data are from IEA Extended Balances OECD/International Energy Agency, 2015 and other sources. Data have been converted by Eni using a unified gross calorific value of 39 MJ/cm 51

64 Natural Gas Consumption The World Top 10 Consumers (billion cubic metres) y/y ( ) CAGR ( ) United States % 1.0% Russia % 1.2% China % 15.3% Iran % 7.5% Japan % 3.6% Canada % 1.2% Saudi Arabia % 5.8% Germany % -0.8% Mexico % 5.6% United Kingdom % -2.7% The World Top 10 1, , , , , , , % 2.2% Rest of the World , , , , , , % 2.8% World 2, , , , , , , % 2.4% The World top 10 (2014) Data source: the original data are from IEA Extended Balances OECD/International Energy Agency, Data have been converted by Eni using a unified gross calorific value of 39 MJ/cm 52

65 Natural Gas Consumption Countries (billion cubic metres) y/y ( ) CAGR ( ) Europe % -0.9% Albania % 7.4% Austria % -0.2% Belarus % 1.2% Belgium % -0.4% Bosnia Herzegovina % -2.6% Bulgaria % -1.4% Croatia % -1.0% Czech Republic % -1.4% Denmark % -3.2% Estonia % -2.9% Finland % -2.2% France % -0.7% Germany % -0.8% Greece % 2.7% Hungary % -2.3% Ireland % 0.6% Italia % -0.9% Latvia % -0.1% Lithuania % 0.1% Luxembourg % 1.6% Macedonia % 6.4% Moldova % -0.2% Netherlands % -1.5% Norway % 1.4% Poland % 2.1% Portugal % 3.9% Romania % -2.8% Serbia and Montenegro % 1.6% Slovakia % -3.8% Slovenia % -1.9% Spain % 3.2% Sweden % 0.2% Switzerland % 0.7% Turkey % 8.6% Ukraine % -5.5% United Kingdom % -2.7% y/y ( ) CAGR ( ) Russia and Central Asia % 1.6% Russia % 1.2% Armenia % 4.1% Azerbaijan % 5.2% Georgia % 2.7% Kazakhstan % 10.1% Kyrgyzstan % -5.2% Tajikistan % -6.3% Turkmenistan % 6.0% Uzbekistan % -0.5% Data source: the original data are from IEA Extended Balances OECD/International Energy Agency, Data have been converted by Eni using a unified gross calorific value of 39 MJ/cm (**) The original data are from Italian Ministry for Economic Development 53

66 Natural Gas Consumption Countries (billion cubic metres) y/y ( ) CAGR ( ) Middle East % 6.8% Bahrain % 4.3% Iran % 7.5% Iraq % 6.0% Israel % 61.1% Jordan % 11.0% Kuwait % 5.4% Lebanon Oman % 9.3% Qatar % 10.5% Saudi Arabia % 5.8% Syria % -0.6% United Arab Emirates % 5.3% Yemen % y/y ( ) CAGR ( ) Africa % 5.3% Algeria % 4.1% Angola % -2.4% Cameroon % Congo % Côte d'ivoire % 1.7% Dem. Rep. Congo % Egypt % 7.0% Gabon % 9.0% Ghana % Libya % -1.7% Morocco % 26.9% Mozambique % 23.9% Nigeria % 5.3% Senegal % 35.0% South Africa % 8.5% Tanzania % Tunisia % 6.1% y/y ( ) CAGR ( ) Asia - Pacific % 6.0% Australia % 3.6% Bangladesh % 7.6% Brunei % 3.5% China % 15.3% Hong Kong % -1.1% India % 4.6% Indonesia % 1.6% Japan % 3.6% Malaysia % 3.2% Myanmar % -13.0% New Zealand % -1.0% Pakistan % 3.0% Philippines % 52.0% Singapore % 16.2% South Korea % 6.9% Taiwan % 7.0% Thailand % 5.9% Vietnam % 15.9% Data source: the original data are from IEA Extended Balances OECD/International Energy Agency, Data have been converted by Eni using a unified gross calorific value of 39 MJ/cm 54

67 Natural Gas Consumption Countries (billion cubic metres) y/y ( ) CAGR ( ) Americas , , , % 1.6% Argentina % 2.3% Bolivia % 3.2% Brazil % 11.3% Canada % 1.2% Chile % -2.0% Colombia % 3.8% Cuba % 4.4% Dominican Republic % Ecuador % Mexico % 5.6% Peru % 21.1% Trinidad and Tobago % 5.5% United States % 1.0% Uruguay % 3.5% Venezuela % -0.5% Data source: the original data are from IEA Extended Balances OECD/International Energy Agency, Data have been converted by Eni using a unified gross calorific value of 39 MJ/cm 55

68 Natural Gas Per Capita Consumption Areas and Aggregates (cubic metres) Europe 922 1,030 1, Russia and Central Asia 2,116 2,344 2,532 2,640 2,590 2,614 2,548 Middle East 1,062 1,365 1,756 1,809 1,836 1,877 1,936 Africa Asia - Pacific Americas 1, ,036 1,056 1,090 1,111 1,127 - North America 2,367 2,133 2,200 2,245 2,317 2,363 2,399 - Latin America World European Union 981 1,080 1, MENA ,216 1,255 1,282 1,304 1,331 OECD 1,196 1,203 1,274 1,263 1,278 1,297 1,265 NON OECD OPEC ,028 1,022 1,048 NON OPEC Per Capita Consumption (2014) World: 477 cubic metres Data source: Eni s calculations. The original data are from IEA Extended Balances OECD/International Energy Agency, 2015, IHS Global Insight and other sources 56

69 Natural Gas Per Capita Consumption The World Top 10 Consumers Ranked by Per Capita Consumption (cubic metres) Russia 2,592 2,897 3,185 3,293 3,225 3,300 3,159 Canada 2,890 2,988 2,763 2,907 2,870 2,958 2,931 Saudi Arabia 1,822 2,220 2,621 2,621 2,793 2,770 2,759 United States 2,310 2,041 2,139 2,172 2,256 2,297 2,340 Iran 952 1,425 1,956 2,043 2,003 2,005 2,213 United Kingdom 1,770 1,687 1,616 1,329 1,245 1,222 1,104 Japan ,013 Germany 1,043 1,125 1,107 1,015 1,017 1, Mexico China The World Top 10 (2014) Data source: Eni s calculations. The original data are from IEA Extended Balances OECD/International Energy Agency, 2015 and IHS Global Insight 57

70 Natural Gas Per Capita Consumption Countries (cubic metres) Europe 922 1,030 1, Albania Austria 970 1,183 1,171 1,107 1, Belarus 1,704 2,091 2,281 2,169 2,148 2,179 2,157 Belgium 1,553 1,672 1,853 1,639 1,549 1,546 1,353 Bosnia Herzegovina Bulgaria Croatia Czech Republic Denmark Estonia Finland France Germany 1,043 1,125 1,107 1,015 1,017 1, Greece Hungary 1,127 1,428 1,169 1,117 1, Ireland 1, ,250 1,085 1, Italy (**) 1,219 1,444 1,348 1,260 1,208 1, Latvia Lithuania ,065 1, Luxembourg 1,832 3,012 2,812 2,370 2,359 1,946 1,801 Macedonia Moldova Netherlands 2,631 2,584 2,815 2,448 2,340 2,353 2,020 Norway 1,101 1,050 1,891 1,167 1,098 1,357 1,183 Poland Portugal Romania Serbia and Montenegro Slovakia 1,275 1,302 1,099 1, , Slovenia Spain Sweden Switzerland Turkey Ukraine 1,514 1,707 1,431 1,220 1,127 1, United Kingdom 1,770 1,687 1,616 1,329 1,245 1,222 1,104 Russia and Central Asia 2,116 2,344 2,532 2,640 2,590 2,614 2,548 Russia 2,592 2,897 3,185 3,293 3,225 3,300 3,159 Armenia Azerbaijan 709 1,128 1,030 1,077 1,159 1,147 1,233 Georgia Kazakhstan ,672 1,809 1,637 1,844 1,825 Kyrgyzstan Tajikistan Turkmenistan 2,889 3,580 4,102 4,459 4,540 4,605 5,507 Uzbekistan 2,002 1,828 1,599 1,761 1,794 1,549 1,591 Data source: Eni s calculations. The original data are from IEA Extended Balances OECD/International Energy Agency, 2015 and IHS Global Insight (**) The original data are from Italian Ministry for Economic Development and IHS Global Insight 58

71 Natural Gas Per Capita Consumption Countries (cubic metres) Middle East 1,062 1,365 1,756 1,809 1,836 1,877 1,936 Bahrain 12,219 11,414 10,072 9,779 9,656 10,418 10,894 Iran 952 1,425 1,956 2,043 2,003 2,005 2,213 Iraq Israel Jordan Kuwait 4,906 5,218 4,726 5,298 5,444 5,348 5,603 Lebanon Oman 3,007 4,086 6,892 7,115 6,548 6,518 5,819 Qatar 19,025 20,003 15,633 17,748 20,847 21,582 20,039 Saudi Arabia 1,822 2,220 2,621 2,621 2,793 2,770 2,759 Syria United Arab Emirates 10,827 9,826 6,976 6,822 6,948 6,976 7,177 Yemen Africa Algeria Angola Cameroon Côte d'ivoire Egypt Gabon Libya 956 1,028 1, Morocco Mozambique Nigeria Senegal South Africa Tanzania Tunisia Data source: Eni s calculations. The original data are from IEA Extended Balances OECD/International Energy Agency, 2015 and IHS Global Insight 59

72 Natural Gas Per Capita Consumption Countries (cubic metres) Asia - Pacific Australia 1,194 1,103 1,514 1,569 1,455 1,519 1,603 Bangladesh Brunei 6,652 5,961 7,971 9,345 8,993 7,016 8,439 China Hong Kong India Indonesia Japan ,013 Malaysia 1,259 1,471 1,316 1,313 1,322 1,531 1,524 Myanmar New Zealand 1, , ,027 1,053 1,148 Pakistan Philippines Singapore 341 1,478 1,694 1,674 1,777 1,958 1,974 South Korea ,018 1,095 1,153 1,041 Taiwan Thailand Vietnam Americas 1, ,036 1,056 1,090 1,111 1,127 Argentina 984 1,105 1,122 1,185 1,210 1,207 1,192 Bolivia Brazil Canada 2,890 2,988 2,763 2,907 2,870 2,958 2,931 Chile Colombia Cuba Dominican Republic Ecuador Mexico Peru Trinidad and Tobago 8,056 13,520 16,484 16,205 15,812 15,959 16,162 United States 2,310 2,041 2,139 2,172 2,256 2,297 2,340 Uruguay Venezuela 1, Data source: Eni s calculations. The original data are from IEA Extended Balances OECD/International Energy Agency, 2015 and IHS Global Insight 60

73 Natural Gas Production/Consumption Ratio Areas and Aggregates Europe Russia and Central Asia Middle East Africa Asia - Pacific Americas North America Latin America World European Union MENA OECD NON OECD OPEC NON OPEC Production/Consumption Ratio (2014) Data source: Eni's calculations. The original data are from IEA Extended Balances OECD/International Energy Agency, 2015 and other sources 61

74 Natural Gas Production/Consumption Ratio The World Top 10 Producers Ranked by Production/Consumption Ratio Norway Qatar Turkmenistan Algeria Canada Russia Saudi Arabia Iran United States China The World Top 10 (2014) Data source: Eni's calculations. The original data are from IEA Extended Balances OECD/International Energy Agency,

75 Natural Gas Production/Consumption Ratio Countries Europe Albania Austria Belarus Bulgaria Croatia Czech Republic Denmark France Germany Greece Hungary Ireland Italy (**) Netherlands Norway Poland Romania Serbia and Montenegro Slovakia Slovenia Spain Turkey Ukraine United Kingdom Russia and Central Asia Russia Azerbaijan Georgia Kazakhstan Kyrgyzstan Tajikistan Turkmenistan Uzbekistan Data source: Eni's calculations. The original data are from IEA Extended Balances OECD/International Energy Agency, 2015 (**) The original data are from Italian Ministry for Economic Development 63

76 Natural Gas Production/Consumption Ratio Countries Middle East Bahrain Iran Iraq Israel Jordan Kuwait Oman Qatar Saudi Arabia Syria United Arab Emirates Yemen Africa Algeria Angola Côte d'ivoire Egypt Gabon Libya Morocco Nigeria Senegal South Africa Tanzania Tunisia Asia - Pacific Australia Bangladesh Brunei China India Indonesia Japan Malaysia Myanmar New Zealand Pakistan Philippines South Korea Taiwan Thailand Vietnam Data source: Eni's calculations. The original data are from IEA Extended Balances OECD/International Energy Agency,

77 Natural Gas Production/Consumption Ratio Countries Americas Argentina Bolivia Brazil Canada Chile Colombia Cuba Ecuador Mexico Peru Trinidad and Tobago United States Venezuela Data source: Eni's calculations. The original data are from IEA Extended Balances OECD/International Energy Agency,

78 Natural Gas Exports The World Top 10 Exporters (billion cubic metres) y/y ( ) CAGR ( ) Russia % -0.1% Qatar % 16.6% Norway % 5.6% Canada % -1.7% Turkmenistan % 3.8% Netherlands % 2.6% Algeria % -2.3% United States % 13.9% Indonesia % -1.2% Malaysia % 3.4% The World Top % 2.3% Rest of the world % 7.9% World , , , , % 3.4% The World Top 10 (2014) Data source: the original data are from IEA Extended Balances OECD/International Energy Agency, Data have been converted by Eni using a unified gross calorific value of 39 MJ/cm 66

79 Natural Gas Exports Countries (billion cubic metres) y/y ( ) CAGR ( ) Europe Austria % 41.6% Belgium % Croatia % Czech Republic % 2.0% Denmark % -3.0% France % 11.6% Germany % 10.0% Hungary % 17.5% Italy % 11.8% Netherlands % 2.6% Norway % 5.6% Poland % 4.5% Slovakia % Spain % Turkey % Ukraine % United Kingdom % -1.6% y/y ( ) CAGR ( ) Russia and Central Asia Russia % -0.1% Armenia % Azerbaijan % Kazakhstan % 5.1% Turkmenistan % 3.8% Uzbekistan % 5.0% y/y ( ) CAGR ( ) Middle East Iran % Oman % 6.8% Qatar % 16.6% United Arab Emirates % 0.7% Yemen % y/y ( ) CAGR ( ) Africa Algeria % -2.3% Angola % Egypt % Libya % 14.2% Mozambique % Nigeria % 11.6% Data source: the original data are from IEA Extended Balances OECD/International Energy Agency, 2015 and, for Italy, from Italian Ministry for Economic Development. Data have been converted by Eni using a unified gross calorific value of 39 MJ/cm 67

80 Natural Gas Exports Countries (billion cubic metres) y/y ( ) CAGR ( ) Asia - Pacific Australia % 8.0% Brunei % -0.7% China % 1.5% Indonesia % -1.2% Malaysia % 3.4% Myanmar % 8.3% Vietnam y/y ( ) CAGR ( ) Americas Argentina % -25.1% Bolivia % 16.9% Canada % -1.7% Colombia % Mexico % -3.4% Peru % Trinidad and Tobago % 11.0% United States % 13.9% Data source: the original data are from IEA Extended Balances OECD/International Energy Agency, Data have been converted by Eni using a unified gross calorific value of 39 MJ/cm 68

81 Natural Gas Imports The World Top 10 Importers (billion cubic metres) y/y ( ) CAGR ( ) Japan % 3.7% Germany % 1.3% United States % -2.4% Italy % -0.2% China % South Korea % 7.0% Turkey % 9.0% France % 0.0% United Kingdom % 22.8% Spain % 5.2% The World Top % 3.0% Rest of the world % 3.8% World , , , , % 3.3% The World Top 10 (2014) Data source: the original data are from IEA Extended Balances OECD/International Energy Agency, 2015 and, for Italy, from Italian Ministry for Economic Development. Data have been converted by Eni using a unified gross calorific value of 39 MJ/cm 69

82 Natural Gas Imports Countries (billion cubic metres) y/y ( ) CAGR ( ) Europe Austria % 3.4% Belarus % 1.1% Belgium % 0.1% Bosnia Herzegovina % -2.6% Bulgaria % -1.5% Croatia % 0.0% Czech Republic % -1.6% Denmark % Estonia % -2.9% Finland % -2.2% France % 0.0% Germany % 1.3% Greece % 2.7% Hungary % 0.1% Ireland % 2.7% Italy % -0.2% Latvia % -2.5% Lithuania % 0.4% Luxembourg % 1.6% Macedonia % 6.5% Moldova % -0.2% Netherlands % 3.7% Poland % 2.7% Portugal % 3.9% Romania % -14.3% Serbia and Montenegro % 3.7% Slovakia % -3.4% Slovenia % -1.9% Spain % 5.2% Sweden % 0.2% Switzerland % 0.7% Turkey % 9.0% Ukraine % -7.8% United Kingdom % 22.8% y/y ( ) CAGR ( ) Russia and Central Asia Russia % -2.8% Armenia % 4.1% Azerbaijan % Georgia % 3.1% Kazakhstan % 1.7% Kyrgyzstan % -5.6% Tajikistan % -6.0% Uzbekistan % y/y ( ) CAGR ( ) Middle East Iran % 7.7% Israel % Jordan % Kuwait % Oman % United Arab Emirates % Data source: the original data are from IEA Extended Balances OECD/International Energy Agency, 2015 and, for Italy, from Italian Ministry for Economic Development. Data have been converted by Eni using a unified gross calorific value of 39 MJ/cm 70

83 Natural Gas Imports Countries (billion cubic metres) y/y ( ) CAGR ( ) Africa Ghana % Morocco % South Africa % Tunisia % 10.1% y/y ( ) CAGR ( ) Asia - Pacific Australia % China % Hong Kong % -1.2% India % Japan % 3.7% Malaysia % Singapore % 16.3% South Korea % 7.0% Taiwan % 7.8% Thailand % 13.7% y/y ( ) CAGR ( ) Americas Argentina % Brazil % 16.7% Canada % 20.6% Chile % -1.2% Dominican Republic % Mexico % 17.3% United States % -2.4% Uruguay % 3.4% Venezuela % Data source: the original data are from IEA Extended Balances OECD/International Energy Agency, Data have been converted by Eni using a unified gross calorific value of 39 MJ/cm 71

84 Natural Gas Natural Gas - Imports Imports by Country of Origin - Pipeline and LNG 2014 (billion cubic metres) EUROPE Importers --> Exporters Austria Belarus Belgium Bosnia Herzegovina Bulgaria Croatia Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Macedonia Moldova Netherlands Poland Portugal Romania Serbia Slovakia Slovenia Spain Sweden Switzerland Turkey Ukraine United Kingdom Europe Austria 0.28 Belgium Croatia 0.31 Czech Republic 0.41 Denmark France Germany Hungary Italy 0.24 Netherlands Norway Poland 0.08 Portugal 0.01 Spain Turkey 0.63 United Kingdom Russia and Central Asia Russia Azerbaijan 6.07 Kazakhstan Turkmenistan Uzbekistan Others FSU Middle East Iran 8.93 Oman 0.16 Qatar United Arab Emirates Yemen Africa Algeria Angola Egypt Equatorial Guinea Libya 6.51 Nigeria Asia-Pacific Australia Brunei China Indonesia Malaysia Myanmar Papua New Guinea Americas Argentina Bolivia Canada Mexico Peru 1.24 Trinidad and Tobago United States Others/Non Specified TOTAL BY COUNTRY TOTAL IMPORTS Data source: IEA Natural Gas Information, 2015 and, for Italy, Italian Ministry for Economic Development 72

85 Natural Gas Natural Gas - Imports RUSSIA AND CENTRAL ASIA MIDDLE EAST AFRICA ASIA-PACIFIC AMERICAS Russia Armenia Georgia Kazakhstan Kyrgyzstan Tajikistan Iran Israel Jordan Kuwait Oman United Arab Emirates Ghana Morocco South Africa Tunisia Australia China Hong Kong India Japan Malaysia Singapore Korea Taiwan Thailand Argentina Brazil Canada Chile Dominican Republic Mexico United States Uruguay Venezuela Others Americas ,

86 Natural Gas Natural Gas - Imports Imports by Country of Origin - Pipeline 2014 (billion cubic metres) Data Source: IEA Natural Gas Information, 2015 and, for Italy, Italian Ministry for Economic Development 74

87 Natural Gas Natural Gas - Imports 75

88 Natural Gas Natural Gas - Imports Imports by Country of Origin - LNG 2014 (billion cubic metres) EUROPE MIDDLE EAST ASIA-PACIFIC AMERICAS Importers --> Exporters Belgium France Greece Italy Lithuania Netherlands Poland Portugal Slovenia Spain Turkey United Kingdom Israel Kuwait United Arab Emirates China India Japan Malaysia Singapore South Korea Taiwan Thailand Argentina Brazil Canada Chile Dominican Republic Mexico United States Others Americas Europe Belgium France 0.08 Netherlands 0.13 Norway Spain Russia and Central Asia Russia Middle East Oman Qatar United Arab Emirates Yemen Africa Algeria Angola Egypt Equatorial Guinea Nigeria Asia-Pacific Australia Brunei Indonesia Malaysia Papua New Guinea Americas Canada 0.01 Peru Trinidad and Tobago United States Others/Non Specified TOTAL BY COUNTRY TOTAL IMPORTS Data source: IEA Natural Gas Information, 2015 and, for Italy, Italian Ministry for Economic Development 76

89 Natural Gas Traded Gas Traded Gas by LNG/ Traded Gas by Pipeline/ Traded Traded Gas Traded Gas Total Traded Gas Total Traded Gas Gas/Production by LNG/Production by Pipeline/Production (%) (%) (%) (%) (%) Traded Gas on Production (percentage) 77

90 Natural Gas LNG Liquefaction and Regasification Capacity Liquefaction Capacity Countries (billion cubic metres) Europe Norway Russia and Central Asia Russia East Middle East Oman Qatar United Arab Emirates Yemen Africa Algeria Angola Egypt Equatorial Guinea Libya Nigeria Asia - Pacific Australia Brunei Indonesia Malaysia Papua New Guinea 5.7 Americas United States Peru Trinidad and Tobago World Regasification Capacity Countries (**) (billion cubic metres) Europe Belgium France Greece Italy Lithuania 0.3 Netherlands Portugal Spain Turkey United Kingdom Middle East Israel Kuwait United Arab Emirates Asia - Pacific China India Indonesia Japan Malaysia Singapore South Korea Taiwan Thailand Americas Argentina Brazil Canada Chile Dominican Republic Mexico United States (***) World Nominal Capacity. Data source: Wood Mackenzie LNG Tool (**) Data source: Wood Mackenzie LNG Tool (***) The United States includes Puerto Rico 78

91 Natural Gas LNG Liquefaction and Regasification Capacity Liquefaction Capacity Cluster of Companies World: billion cubic metres World: billion cubic metres Majors: BP, Chevron, Eni, ExxonMobil, Repsol, Shell, Total. African NOCs: EGAS (Egyptian Natural Gas Holding Co.), EGPC (Egyptian General Petroleum Corportation), GEPetrol/Sonagas, National Lybian Oil Company (NOC), NNPC, Sonangol, Sonatrach. Asian NOCs: CNOOC, Gazprom, MRDC (Mineral Resources Dev. Co), Pertamina, Petronas. Asian Utilities: Hyunday, Itochu, JILCO, Kansai Electric, KOGAS, LNG Japan Corporation, Marubeni, Mitsubishi, Mitsui, Osaka Gas, SK Corp., Tokyo Gas & Tokyo Electric. Eurepean Utilieties: BG, Gas Natural Fenosa, GdF Suez, RWE. Middle East NOCs: ADNOC, Qatar Petroleum, Yemen Gas Co

92 Natural Gas LNG Liquefaction and Regasification Capacity Regasification Capacity Cluster of Companies World: billion cubic metres World: billion cubic metres Majors: BP, Chevron, Eni, ExxonMobil, Repsol, Shell, Total. Asian NOCs: BPCL (Bharat Petroleum Corporation Limited), CNOOC, CPC, Gazprom, IOC (Indian Oil Corporation), ONGC, Pertami, PetroChina, Petronas, PTT, Sinopec. Asian Utilities: Chubu Electric Power, Chugoku Electric Power, Egegaz, GAIL, Hiroshima Gas, Hokkaido Gas, HongKong & China Gas, HongKong Electric, Kansai Electric Power, KOGAS, K-Power, Kyshu Electric Power, Marahashtra Utility, Mitsui, Nippon Gas, NTPC, Oita Gas, Okinawa Electric Power, Osaka Gas, Perusahaan Gas Negara, Saibu Gas, Shenergy, Shikoku Electric Power, Shizouka Gas, Singapore LNG Corp, Toho Gas, Tokyo Electric Power, Tokyo Gas. European Utilities: BG, Botas, Centrica, CPSA, Depa, DONG Energy, E.On, EconGas, EdF, Enagas, Enel, Essent, EVE, Gas Natural Fenosa, Gasunie, GdF Suez, Iderbrola, Iren, RWE, Union Fenosa Gas. Middle East, African and South American NOCs: CFE, Enap, Enarsa, Kuwait National Petroleum Corp., Oman Oil, Petrobras, Qatar Petroleum, Sonangol, Sonatrach. US Utilities: AES, Chenierem Dominion, Dow Chemical, El Paso, Excelerate Energy, Freeport LNG Development LP, Sempra Energy, Southern Union

93 Natural Gas Natural Gas Balance - Italy Italy (billion cubic metres) Production Imports Exports Stock Changes Total Primary Energy Supply Netherlands, Norway and others 11.4 Russia 26.2 Croatia 0.3 Algeria and others 0.5 Qatar 4.4 imports by pipeline imports by lng Algeria 6.4 Libya 6.5 Data source: Eni s calculations on Italian Ministry for Economic Development data. Gas volumes are quoted at Italian calorific value of 38.1 MJ/cm 81

94

95 production quality World Europe Russia and Central Asia Middle East Africa Asia - Pacific Americas Distillation Yields European imported crudes with the most significant quality change World Oil and Gas Review 2015

96 Production Quality World Crude Production by Quality (Gravity and Sulphur Content) (thousand barrels/day) Share of total World (A) 68,377 74,442 74,718 75,542 77,355 77,416 78,776 Ultra Light 1,789 2,228 2,694 2,930 3,186 3,326 3, % 4.3% Light & Sweet 15,084 14,091 13,901 13,213 14,507 14,205 14, % 18.2% Light & Medium Sour 2,718 3,015 3,660 3,527 3,883 3,990 4, % 5.1% Light & Sour 2,489 2,455 2,201 2,427 2,548 2,495 2, % 2.6% Medium & Sweet 7,318 8,514 8,429 8,495 7,939 8,278 8, % 10.9% Medium & Medium Sour 2,373 2,704 2,965 3,016 2,930 3,032 3, % 4.2% Medium & Sour 27,711 30,667 29,817 30,949 31,531 31,113 31, % 40.5% Heavy & Sweet 1,113 1,407 2,180 1,957 1,813 1,629 1, % 2.3% Heavy & Medium Sour 1,385 1,813 2,294 2,324 2,307 2,195 2, % 2.6% Heavy & Sour 5,432 6,515 5,709 5,849 5,881 6,340 6, % 8.2% Unassigned production: (B) 965 1, % 1.0% % Unassigned production (B/A) Crude Production by Gravity (thousand barrels/day) Share of total World 68,377 74,442 74,718 75,542 77,355 77,416 78,776 Light 22,080 21,789 22,457 22,097 24,124 24,016 23, % 30.2% Medium 37,402 41,886 41,211 42,460 42,400 42,423 43, % 55.6% Heavy 7,930 9,735 10,182 10,131 10,000 10,164 10, % 13.1% Unassigned production 965 1, Crude Production Sulphur Content (thousand barrels/day) Share of total World 68,377 74,442 74,718 75,542 77,355 77,416 78,776 Sweet 25,304 26,241 27,205 26,596 27,445 27,438 28, % 35.7% Medium Sour 6,476 7,532 8,919 8,867 9,120 9,217 9, % 12.0% Sour 35,632 39,637 37,726 39,225 39,959 39,947 40, % 51.3% Unassigned production 965 1, Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data 84

97 Production Quality World Quality and Production Volume of Main Crudes 2014 (thousand barrels/day) Data source: Eni s elaborations 85

98 Production Quality World Crude Production by Quality (thousand barrels/day) 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10, Heavy & Sour Heavy & Medium Sour Heavy & Sweet Medium & Sour Medium & Medium Sour Medium & Sweet Light & Sour Light & Medium Sour Light & Sweet Ultra Light Crude Production by Quality (selected years, thousand barrels/day) Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data 86

99 Production Quality Europe Crude Production by Quality (thousand barrels/day) Share of total Europe (A) 6,753 5,585 4,127 3,790 3,498 3,323 3,349 Ultra Light % 9.8% Light & Sweet 4,057 3,225 1,736 1,576 1,436 1,359 1, % 42.3% Light & Medium Sour % 12.9% Light & Sour % 2.5% Medium & Sweet 1, % 13.5% Medium & Medium Sour Medium & Sour % 0.4% Heavy & Sweet % 0.8% Heavy & Medium Sour % 4.7% Heavy & Sour % 1.3% Unassigned production (B) % 11.8% % Unassigned production (B/A) Quality and Production Volume of Main Crudes 2014 (**) (thousand barrels/day) Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data (**) Data source: Eni s elaborations 87

100 Production Quality Europe Crude Production by Quality (thousand barrels/day) 7,000 6,000 5,000 4,000 3,000 2,000 1, Heavy & Sour Heavy & Medium Sour Heavy & Sweet Medium & Sour Medium & Sweet Light & Sour Light & Medium Sour Light & Sweet Ultra Light Crude Production by Quality (selected years, thousand barrels/day) Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data 88

101 Production Quality Crude Production by Quality (thousand barrels/day) Europe Share of total Denmark Light & Sweet % 4.8% Medium & Sweet % 95.2% Italy Light & Sweet % 0.9% Light & Sour % 78.3% Medium & Sour % 0.0% Heavy & Sour % 20.8% Norway 3,331 2,961 2,137 2,040 1,917 1,838 1,892 Ultra Light % 17.3% Light & Sweet 2,074 1,899 1,312 1,199 1,103 1,070 1, % 59.8% Light & Medium Sour % 1.0% Medium & Sweet 1, % 14.4% Medium & Medium Sour % 0.0% Medium & Sour % 0.7% Heavy & Medium Sour % 6.8% United Kingdom 2,480 1,650 1,235 1, Light & Sweet 1,823 1, % 34.7% Light & Medium Sour % 52.2% Medium & Sweet % 3.0% Medium & Sour % 0.0% Heavy & Sweet % 3.5% Heavy & Medium Sour % 3.8% Heavy & Sour % 2.7% Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data 89

102 Production Quality Russia and Central Asia Crude Production by Quality (thousand barrels/day) Share of total Russia and Central Asia (A) 7,721 11,521 13,145 13,170 13,223 13,444 13,453 Ultra Light % 4.2% Light & Sweet ,866 1,762 1,186 1,201 1, % 9.1% Light & Medium Sour 611 1,196 1,129 1,111 1,610 1,697 1, % 12.4% Light & Sour % 0.1% Medium & Sweet % 1.0% Medium & Medium Sour % 7.1% Medium & Sour 6,096 9,055 9,065 8,928 9,096 9,076 8, % 66.1% Heavy & Sweet % 0.0% Heavy & Medium Sour Heavy & Sour Unassigned production (B) % 0.0% % Unassigned production (B/A) Quality and Production Volume of Main Crudes 2014 (**) (thousand barrels/day) Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data (**) Data source: Eni s elaborations 90

103 Production Quality Russia and Central Asia Crude Production by Quality (thousand barrels/day) 14,000 12,000 10,000 8,000 6,000 4,000 2, Medium & Sour Medium & Medium Sour Medium & Sweet Light & Sour Light & Medium Sour Light & Sweet Ultra Light Crude Production by Quality (selected years, thousand barrels/day) Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data 91

104 Production Quality Russia and Central Asia Crude Production by Quality (thousand barrels/day) Share of total Azerbaijan , Light & Sweet , % 96.7% Medium & Sweet % 3.3% Kazakhstan 718 1,295 1,655 1,680 1,665 1,713 1,688 Ultra Light % 3.1% Light & Sweet % 0.0% Light & Medium Sour 611 1,196 1,057 1,085 1,601 1,657 1, % 96.9% Russia 6,477 9,491 10,202 10,329 10,432 10,577 10,612 Ultra Light % 4.4% Light & Sweet % 2.5% Light & Medium Sour % 0.3% Medium & Sweet % 0.0% Medium & Medium Sour % 9.0% Medium & Sour 6,096 9,055 9,062 8,926 9,094 9,075 8, % 83.8% Turkmenistan Ultra Light % 12.8% Light & Sweet % 42.7% Medium & Sweet % 43.0% Heavy & Sweet % 1.5% Uzbekistan Ultra Light % 41.9% Light & Sweet % 3.5% Light & Sour % 50.0% Medium & Medium Sour % 1.2% Medium & Sour % 3.5% Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data 92

105 Production Quality Middle East Crude Production by Quality (thousand barrels/day) Share of total Middle East 21,795 22,919 22,170 24,075 24,412 24,198 24,573 Ultra Light ,039 1,136 1,175 1, % 4.8% Light & Sweet % 1.0% Light & Medium Sour 1,490 1,486 1,434 1,482 1,431 1,435 1, % 6.3% Light & Sour 2,379 2,295 2,036 2,266 2,383 2,333 1, % 7.6% Medium & Sweet Medium & Medium Sour % 0.4% Medium & Sour 16,664 17,499 16,723 18,257 18,608 18,450 19, % 78.5% Heavy & Sweet Heavy & Medium Sour Heavy & Sour % 1.4% Quality and Production Volume of Main Crudes 2014 (**) (thousand barrels/day) Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data (**) Data source: Eni s elaborations 93

106 Production Quality Middle East Crude Production by Quality (thousand barrels/day) 30,000 25,000 20,000 15,000 10,000 5, Heavy & Sour Medium & Sour Medium & Medium Sour Light & Sour Light & Medium Sour Light & Sweet Ultra Light Crude Production by Quality (selected years, thousand barrels/day) Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data 94

107 Production Quality Middle East Crude Production by Quality (thousand barrels/day) Share of total BAHRAIN Medium & Sour % 100.0% IRAN 3,684 3,879 3,704 3,621 3,004 2,682 2,812 Medium & Sour 3,684 3,764 3,563 3,491 2,913 2,511 2, % 96.0% Heavy & Sour % 4.0% IRAQ 2,567 1,813 2,364 2,670 2,952 3,080 3,332 Medium & Sour 2,567 1,813 2,364 2,670 2,952 3,080 3, % 100.0% KUWAIT 2,045 2,423 2,298 2,533 2,735 2,809 2,800 Medium & Sour 1,905 2,283 2,173 2,401 2,611 2,689 2, % 95.9% Heavy & Sour % 4.1% OMAN Medium & Sour % 100.0% QATAR 860 1,216 1,636 1,777 1,876 1,904 1,880 Ultra Light ,039 1,136 1,175 1, % 62.5% Light & Sour % 20.8% Medium & Sour % 16.7% SAUDI ARABIA 8,278 9,353 8,177 9,354 9,785 9,664 9,719 Light & Sweet % 2.1% Light & Sour 1,350 1,224 1,084 1,238 1,300 1,264 1, % 10.8% Medium & Sour 6,580 7,791 6,741 7,725 8,089 8,038 8, % 85.9% Heavy & Sour % 1.2% SYRIA Light & Medium Sour % 46.8% Heavy & Sour % 53.3% UNITED ARAB EMIRATES 2,238 2,459 2,311 2,505 2,652 2,762 2,758 Light & Medium Sour 1,095 1,269 1,262 1,322 1,358 1,414 1, % 56.1% Light & Sour % 15.5% Medium & Medium Sour % 0.0% Medium & Sour % 28.4% YEMEN Light & Sweet % 26.7% Medium & Medium Sour % 73.3% Data source: Eni s elaborations on Monthly Oil Data Services OECD/International Energy Agency, 2015 data 95

108 Production Quality Africa Crude Production by Quality (thousand barrels/day) Share of total Africa (A) 7,461 9,473 9,809 8,702 9,401 8,693 8,226 Ultra Light % 6.1% Light & Sweet 4,177 4,829 5,202 4,384 5,332 4,612 3, % 48.6% Light & Medium Sour % 0.5% Light & Sour % 0.3% Medium & Sweet 1,760 2,843 2,485 2,519 2,113 2,106 2, % 28.7% Medium & Medium Sour % 3.0% Medium & Sour % 4.1% Heavy & Sweet % 5.0% Heavy & Medium Sour % 2.6% Heavy & Sour % 1.0% Unassigned production (B) % 0.1% % Unassigned production (B/A) Quality and Production Volume of Main Crudes 2014 (**) (thousand barrels/day) Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data (**) Data source: Eni s elaborations 96

109 Production Quality Africa Crude Production by Quality (thousand barrels/day) 10,000 8,000 6,000 4,000 2, Heavy & Sour Heavy & Medium Sour Heavy & Sweet Medium & Sour Medium & Medium Sour Medium & Sweet Light & Sweet Ultra Light Crude Production by Quality (selected years, thousand barrels/day) Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data 97

110 Production Quality Africa Crude Production by Quality (thousand barrels/day) Share of total Algeria 1,436 1,931 1,765 1,747 1,761 1,748 1,578 Ultra Light % 29.0% Light & Sweet 806 1,327 1,205 1,181 1,165 1,148 1, % 71.0% Angola 745 1,228 1,750 1,662 1,784 1,718 1,661 Light & Sweet % 12.8% Medium & Sweet % 51.9% Medium & Medium Sour % 14.6% Heavy & Sweet % 8.0% Heavy & Medium Sour % 12.7% Cameroon Medium & Sweet % 60.0% Heavy & Sweet % 40.0% Chad Heavy & Sweet % Congo Light & Sweet % 55.3% Medium & Sweet % 44.7% Cote d'ivoire Medium & Sweet % 33.1% Heavy & Sweet % 66.9% Dem. Rep. Congo Medium & Sweet % 100.0% Egypt Light & Sweet % 59.8% Medium & Sour % 26.6% Heavy & Sour % 13.6% Equatorial Guinea Ultra Light % 15.6% Light & Sweet % 0.0% Medium & Sweet % 84.4% Medium & Medium Sour % 0.0% Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data 98

111 Production Quality Africa Crude Production by Quality (thousand barrels/day) Share of total Gabon Light & Sweet % 22.1% Medium & Sweet % 32.6% Medium & Sour % 45.3% Ghana Light & Sweet % 100.0% Libya 1,411 1,640 1, , Light & Sweet 1,353 1,544 1, , % 79.4% Light & Medium Sour % 8.7% Medium & Sour % 11.9% Mauritania Medium & Medium Sour % Nigeria 2,160 2,546 2,595 2,693 2,627 2,456 2,430 Light & Sweet 1,372 1,245 1,734 1,842 1,915 1,771 1, % 65.8% Medium & Sweet 788 1, % 34.2% Heavy & Sweet % 0.0% Sudan Medium & Sweet % 59.4% Heavy & Sweet % 40.6% Tunisia Light & Sweet % 34.0% Light & Sour % 49.9% Medium & Medium Sour 1 1.3% 0.0% Medium & Sour % 16.1% Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data 99

112 Production Quality Asia - Pacific Crude Production by Quality (thousand barrels/day) Share of total Asia - Pacific (A) 7,478 7,552 7,898 7,766 7,781 7,573 7,543 Ultra Light % 3.8% Light & Sweet 2,756 2,723 1,918 1,908 2,136 1,865 1, % 23.3% Light & Medium Sour % 0.0% Light & Sour % 0.5% Medium & Sweet 2,877 2,901 3,580 3,558 3,386 3,633 3, % 47.9% Medium & Medium Sour % 7.8% Medium & Sour % 0.3% Heavy & Sweet ,328 1,251 1,200 1,039 1, % 14.8% Heavy & Medium Sour Heavy & Sour Unassigned production (B) % 1.8% % Unassigned production (B/A) Quality and Production Volume of Main Crudes 2014 (**) (thousand barrels/day) Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data (**) Data source: Eni s elaborations 100

113 Production Quality Asia - Pacific Crude Production by Quality (thousand barrels/day) 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1, Heavy & Sweet Medium & Medium Sour Medium & Sweet Light & Sweet Ultra Light Crude Production by Quality (selected years, thousand barrels/day) Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data 101

114 Production Quality Asia - Pacific Crude Production by Quality (thousand barrels/day) Share of total Australia Ultra Light % 26.6% Light & Sweet % 45.9% Heavy & Sweet % 27.5% Brunei Ultra Light % 9.4% Light & Sweet % 46.7% Medium & Sweet % 30.4% Heavy & Sweet % 13.6% China 3,259 3,636 4,067 4,077 4,134 4,138 4,148 Light & Sweet % 0.3% Light & Medium Sour % 0.0% Light & Sour % 0.8% Medium & Sweet 2,201 2,329 2,627 2,688 2,752 2,789 2, % 68.3% Medium & Medium Sour % 14.2% Medium & Sour % 0.5% Heavy & Sweet % 15.9% East Timor Ultra light % India Light & Sweet % 88.1% Medium & Sweet % 3.0% Heavy & Sweet % 8.9% Indonesia 1, Ultra Light % 6.7% Light & Sweet % 23.9% Medium & Sweet % 29.2% Heavy & Sweet % 40.1% Malaysia Ultra Light % 8.7% Light & Sweet % 44.0% Medium & Sweet % 47.3% Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data 102

115 Production Quality Asia - Pacific Crude Production by Quality (thousand barrels/day) Share of total New Zeland Light & Sweet % 79.5% Medium & Sweet % Papua New Guinea Light & Sweet % 100.0% Thailand Light & Sweet % 100.0% Vietnam Light & Sweet % 34.1% Medium & Sweet % 65.9% Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data 103

116 Production Quality Americas Crude Production by Quality (thousand barrels/day) Share of total Americas (A) 17,169 17,393 17,540 18,017 19,017 20,151 21,632 Ultra Light % 2.5% Light & Sweet 3,388 2,674 2,833 3,236 4,082 4,885 5, % 26.5% Light & Medium Sour % 1.6% Light & Sour Medium & Sweet 889 1,409 1,520 1,553 1,633 1,795 1, % 9.2% Medium & Medium Sour 1,559 1,578 1,722 1,551 1,381 1,371 1, % 6.6% Medium & Sour 4,021 3,658 3,612 3,426 3,445 3,209 3, % 15.6% Heavy & Sweet % 1.1% Heavy & Medium Sour 1,147 1,407 1,765 1,853 1,802 1,724 1, % 7.9% Heavy & Sour 4,901 5,684 4,951 5,144 5,322 5,766 5, % 27.7% Unassigned production (B) % 1.3% % Unassigned production (B/A) Quality and Production Volume of Main Crudes 2014 (**) (thousand barrels/day) Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data (**) Data source: Eni s elaborations 104

117 Production Quality Americas Crude Production by Quality (thousand barrels/day) 21,000 18,000 15,000 12,000 9,000 6,000 3, Heavy & Sour Heavy & Medium Sour Heavy & Sweet Medium & Sour Medium & Medium Sour Medium & Sweet Light & Medium Sour Light & Sweet Crude Production by Quality (selected years, thousand barrels/day) Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data 105

118 Production Quality Americas Crude Production by Quality (thousand barrels/day) Share of total Argentina Light & Sweet % 14.6% Medium & Medium Sour % 40.8% Heavy & Sweet % 39.0% Brazil 1,234 1,637 2,061 2,112 2,067 2,027 2,239 Light & Sweet % 0.5% Light & Medium Sour % 1.9% Medium & Sweet % 18.0% Medium & Medium Sour % 17.3% Heavy & Sweet % 1.6% Heavy & Medium Sour 914 1,144 1,319 1,353 1,294 1,238 1, % 55.8% Heavy & Sour % 4.9% Canada 2,015 2,372 2,724 2,911 3,131 3,333 3,540 Light & Sweet % 20.3% Medium & Sweet ,000 1, % 28.0% Medium & Medium Sour % 4.7% Heavy & Sour ,104 1,191 1,348 1,471 1, % 47.0% Memo: Syncrude production is included in Medium & Sweet Memo: bitumen production is included in Heavy & Sour % 26.5% ,011 1, % 34.2% Colombia , Light & Sweet % 4.5% Medium & Sweet % 5.4% Heavy & Medium Sour % 45.3% Heavy & Sour % 44.8% Ecuador Heavy & Sour % 100.0% Mexico 3,012 3,333 2,577 2,553 2,548 2,522 2,427 Light & Medium Sour % 12.5% Medium & Sour % 35.3% Heavy & Sour 1,774 2,387 1,423 1,430 1,394 1,365 1, % 52.2% Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data 106

119 Production Quality Americas Crude Production by Quality (thousand barrels/day) Share of total United States 5,822 5,181 5,471 5,653 6,481 7,448 8,626 Ultra light % 5.0% Light & Sweet 2,101 1,717 2,013 2,388 3,171 4,066 4, % 56.7% Medium & Sweet % 5.0% Medium & Medium Sour % 7.7% Medium & Sour 1,499 1,426 1,550 1,448 1,421 1,383 1, % 17.9% Heavy & Sour % 7.9% Venezuela 2,894 2,788 2,535 2,501 2,498 2,497 2,462 Ultra light % 4.2% Medium & Sweet % 4.1% Medium & Sour 1,789 1,429 1,228 1,196 1, % 39.6% Heavy & Sour 1,062 1,071 1,097 1,082 1,086 1,302 1, % 52.0% Data source: Eni s elaborations on Monthly Oil Data Service OECD/International Energy Agency, 2015 data 107

120 Production Quality Distillation Yields European imported crudes with the most significant quality change CPC blend quality trend - period API, Yields %wt Basrah quality trend - period API, Yields %wt 108

121 Production Quality Distillation Yields Kirkuk quality trend - period API, Yields %wt Azeri from BTC quality trend - period API, Yields %wt 109

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123 refining industry Refining Capacity World Oil and Gas Review 2015

124 Refining Industry Refining Capacity Areas and Aggregates Refineries (no.) Primary Capacity (mmtons) Primary Capacity (kbbl/d) Conversion Capacity (FCC eqv.) (mmtons) Complexity Ratio FCC eqv. NCI (%) Refineries (no.) Primary Capacity (mmtons) Primary Capacity (kbbl/d) Conversion Capacity (FCC eqv.) (mmtons) Complexity Ratio FCC eqv. NCI (%) Europe (**) , , Russia and Central Asia , , Middle East , , Africa , , Asia 227 1,115 22, ,233 24, North East Asia , , Asia and Pacific , , Americas 256 1,313 26, ,358 27, North America , ,034 20, Latin America , , World 782 4,151 83,169 1, ,352 87,261 1, World Primary Capacity (2014) 4,793 million tons World Primary Capacity Growth ( ) 642 million tons Data source: Eni s calculations on Icis Consulting data (**) Belarus and Ukraine aren't included in Europe but in Russia and Central Asia 112

125 Refining Industry Refining Capacity Refineries (no.) Primary Capacity (mmtons) Primary Capacity (kbbl/d) Conversion Capacity (FCC eqv.) (mmtons) Complexity Ratio FCC eqv. NCI (%) Refineries (no.) Primary Capacity (mmtons) Primary Capacity (kbbl/d) Conversion Capacity (FCC eqv.) (mmtons) Complexity Ratio FCC eqv. NCI (%) , , Europe (**) , , Russia and Central Asia , , Middle East , , Africa 264 1,474 29, ,636 32,847 1, Asia , ,104 22, North East Asia , , Asia and Pacific 242 1,352 27, ,361 27, Americas 167 1,033 20, ,068 21, North America , , Latin America 804 4,598 92,269 2, ,793 96,266 2, World 2014 Complexity ratio (FCC eqv. %) 113

126 Refining Industry Refining Capacity Primary Capacity by Cluster of Companies World: 4,151 million tons World: 4,793 million tons 2014 (million tons) Majors: ExxonMobil, BP, Shell, Chevron, Total, Eni, Repsol NOCs: PDVSA, Saudi Aramco, NIORDC, Pemex, Lukoil, Indian Oil Corporation, Kuwait Petroleum Corp., Reliance, Rosneft, Pertamina, Gazprom, Sinopec, PetroChina, CNOOC, Petrobras, KNOC, ONGC, Mitsui, Petronas, PTT, Statoil 114