Eni SpA (E),
Italy
's
biggest oil and natural gas company by volume, Thursday said its new four-year
EUR59.6 billion investment plan estimates average annual hydrocarbon production
growth of more than 3% through 2015.
The annual growth targets for the next four years are based on a higher oil
price per barrel, to $90 this year and in 2013, and to $85 in the following two
years, it said.
Eni's previous hydrocarbon growth estimate, for 2011-14, topping an average 3%
a year had a $70 a barrel assumption.
It also said it expects average annual hydrocarbon growth to be 3% between 2015
and 2021.
The 2012-2015 plan forecasts investments of EUR59.6 billion, or 12% more than
the EUR53.3 billion capital expenditure budget contained in the previous
2011-2014 plan presented in March 2011.
The new investments will set aside 75% of the total figure for upstream
activities, the Rome-based company said.
At 1553 GMT, Eni shares were down 0.2% at EUR18.18, giving it a market
capitalization of about EUR73 billion and making it
Italy
's
biggest company. Italy's FTSE Mib Index gained 0.2%.