Eni Restructures With Two New Business Groups
Eni is creating two new business groups as part of its plans to be a corporate leader in energy transition.
Its new Natural Resources group will focus on developing its upstream oil and gas portfolio sustainably, promoting energy efficiency and carbon capture; separately, the new Energy Evolution group will be dedicated to supporting the evolution of the company’s power generation, product transformation and marketing from fossil to bio, blue and green.
Alessandro Puliti will lead Natural Resources and Massimo Mondazzi will lead Energy Evolution.
Eni said the business groups will keep close links in the hydrocarbon value chain, with the goal of best managing the different phases of the energy transition and jointly developing decarbonization processes.
The new structures, which were recently presented by Eni’s Chief Executive Officer Claudio Descalzi to the board, are a key step forward in the implementation of the company’s strategy unveiled in February, which outlines the evolution of the business over the next 30 years .
“This new structure reflects Eni’s pivot to the energy transition,” Descalzi said. “An irreversible path that will make us leaders in decarbonized energy products. With our new plan, in February, we have set our path for the next 30 years, and as of today it is unique in our industry.”
“The reorganization also involves the corporate structures, which will evolve, continuing to be the central reference point for strategic and control processes, providing an effective support to meet the business groups’ objectives. The fight against climate change and promotion of sustainable development are recognized by governments, civil society, investors and business alike as priorities for global development. Only those who pursue these in an innovative way will create value in the long term.”
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