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Eni sees 2014-2017 hydrocarbon output rising by 3% a year

Company to sell 9 bn euros in assets over 2014-2017 period

13 February, 16:02
Eni sees 2014-2017 hydrocarbon output rising by 3% a year (ANSA) - London, February 13 - Italian oil major Eni expects its annual hydrocarbon production rate in the 2014-2017 period to rise by 3%, according to the company's new business plan released Thursday.

In the 2017-2023 period, the average growth rate is expected to jump further still, to an annual increase of 4%. Operational cash flow, meanwhile, in the 2016-2017 period is expected to gain to 55%.

Management said it had proposed to the board a 2014 dividend of 1.12 euros, a 1.8% increase in the payout levels from the previous years. The company also said it expects investments to drop by 5% in the next 4 years, to 54 billion euros. Eni will sell assets for a total of nine billion euros in the 2014-2017 period, of which 2.2 billion euros are related to the sale of its holdings in Arctic Russia.

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