[Wcsa - Wowtimes - Almanac Events & Achievements 2023] Milestones marking the outstanding growth in 70 years of operation of Eni SpA, the largest oil and gas group in Italy (1953)


(wcsa.world) Eni SpA is a multinational oil and gas company. Eni is present in 70 countries, and is currently Italy's largest industrial company.

Eni S.p.A. is an Italian multinational energy company headquartered in Rome. Considered one of the seven "supermajor" oil companies in the world, it has operations in 69 countries with a market capitalization of US$54.08 billion, as of 11 April 2022. The Italian government owns a 30.33% golden share in the company, 4.37% held through the Ministry of Economy and Finance and 25.96% through the Cassa Depositi e Prestiti. The company is a component of the Euro Stoxx 50 stock market index.


The name "ENI" was initially the acronym of "Ente Nazionale Idrocarburi" (National Hydrocarbons Board). Through the years after its foundation however, it operated in many fields including contracting, nuclear power, energy, mining, chemicals and plastics, refining/extraction and distribution machinery, hospitality industry and even the textile industry and news.

With revenues around €92.2 billion, Eni ranked 111th on both the Fortune Global 500 and the Forbes Global 2000 in 2022, making it the third largest Italian company on the Fortune list (after Assicurazioni Generali and Enel) and second largest on the Forbes list (after Enel). Per the Fortune Global 500, Eni is the largest petroleum company in Italy, the second largest based in the European Union (after TotalEnergies), and the 13th largest in the world.


The company’s milestones:

1953: Eni was founded in 1953 from an existing company, Agip, which was created in 1926 with the aim to explore for oilfields, acquire and commercialize oil and derivatives.

Starting in 1954: Eni acquired extensive exploration rights in North Africa, signing an agreement with the Egyptian government led by Nasser while providing an active and equal role for the crude producing countries through the establishment of joint ventures.

In the 1960s: Eni signed joint venture contracts with foreign companies to supply crude from Egypt to Iran and from Libya to Tunisia.

In 1963: Eni acquired a majority stake in Italgas.


1974: Eni signed an agreement with the Libyan government, followed by additional agreements with Egypt, Nigeria and Tunisia.

During the mid-1970s: Eni planned a major infrastructure for transporting natural gas over long distances, by building a pipeline network of thousands of miles throughout Europe and the Mediterranean.

1990: Sales continued to increase in most sectors at the end of 1990, with higher oil prices pushing up profits in the energy sector.

1992: Eni became a joint stock company by Law Decree.

1995: The first tranche of the company's shares was listed on the Borsa Italiana and the New York Stock Exchange in 1995.

1997: Agip SpA was merged into Eni S.p.A. effective as of January 1, 1997; Eni now conducts its exploration and production activities through its Agip division and certain operating subsidiaries.

Since 2000: Eni has been developing the Kashagan oilfield a major offshore discovery, along the Caspian Sea.

2007: Eni signed an agreement to conduct South Stream a feasibility study with Gazprom to import Russian gas into Europe across the Black Sea.


2010: Eni achieves key production milestone in Iraqi Zubair oil field.

February 2014: Eni discovered oil at its DRC offshore block.

August 2015: Eni announced the discovery of a huge gasfield off the coast of Egypt.

2016: Eni launched Progetto Italia, which aims to redeveloping its industrial areas and to create new renewable sources production plants.

2018: The first photovoltaic plant was inaugurated in Assemini, the second opened in Porto Torres, both in Sardinia.

January 2018: Eni launched its new HPC4 supercomputer, one of the most powerful computing systems which allows a more effective and fast exploration of oil and gas reservoirs.

As of February 2020: Eni replaced the HPC4 supercomputer with the new model HPC5, which has three times the computing ability compared to the previous one.


According to zippia.com & Wikipedia

Kyna ( Collect) - WOWTIMES (Source of photos: Internet)