Eni’s Board of Directors has approved a new business structure for the company, in which two new business groups were created: Natural Resources and Energy Evolution, which transform Eni into an industry leader in the energy transition, according to a press release.
The Natural Resources team will be focused on developing the upstream oil and gas portfolio sustainably, promoting energy efficiency, and carbon capture. Meanwhile, the Energy Evolution team will aid in evolving the company’s power generation product transformation and marketing from fossil fuel to bio, blue and green products.
Eni has iterated that the two sub teams will work closely with the hydrocarbon value chain, with the objective of best managing the different phases of the energy transition and jointly developing decarbonization processes.
The formation of these new organizations represents a significant step towards achieving Eni’s 2050 strategy, which embodies value creation, portfolio sustainability, and financial strength.
Eni’s CEO Claudio Descalzi said, “This new structure reflects Eni’s pivot to the energy transition. 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, as of today it is unique in our industry.”
The Natural Resources team will be led by Alessandro Puliti, and the Energy Evolution team will be headed by Massimo Mondazzi.