Eni Corporate University Scuola Mattei Scuola Enrico Mattei Master Medea Academic Year 2003-2004 San Donato Milanese, 28 th June 2004 Tutors: Maurizio.

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Presentation transcript:

Eni Corporate University Scuola Mattei Scuola Enrico Mattei Master Medea Academic Year San Donato Milanese, 28 th June 2004 Tutors: Maurizio Granato Nicola De Blasio Alberto Marsala Giorgio Vicini -MultiPhase Boosting Technolgy – Technology Economic Evaluation Group members: Silvia Fazi Mirco Gastaldello Dario Li Gioi Massimo Stolzuoli Simona Varrasso

Eni Corporate University Scuola Mattei Double Screw Pump Technology Produce at Lower Costs: Reducing the Export Pipelines Using the Existing Facilities Increase Production: Wellhead Back Pressure Reduction Recovery Factor Increasing

Eni Corporate University Scuola Mattei Basic assumptions ٧ R&D total expenditure: Mln € since R&D Off-Shore share: 63.1% - R&D On-Shore share: 36.9% ٧ WACC: 8.10% ٧ Inflation rate: 2.50% ٧ Oil prices 18 – 24 $/bbl ٧ Gas prices On-Shore: 1.99 – 2.65 $/Mbtu Off-Shore: 2.13 – 2.84 $/Mbtu ٧ Electricity prices: correlated to gas prices ٧ Technology life: 15 years ٧ Linear / quadratic trend hypothesis for breakeven analysis

Eni Corporate University Scuola Mattei On-Shore Field Mature technology ENI’s share: 50% Application life: 4 years Differential analysis between pump enhanced production and normal production NPV (ENI’s share): - oil 1.65 Mln € - oil 2.25 Mln € Innovative application ENI’s share: 70% Application life: 9 years Differential analysis between pump enhanced production & gas-lift production NPV (ENI’s share): - oil Mln € - oil Mln € On-Shore Field

Eni Corporate University Scuola Mattei 15 year technology life Cash Flow On-Shore Field (hp: linear trend) 2.13 Mln € Mln € Mln € Year

Eni Corporate University Scuola Mattei Break Even On-Shore (hp: linear trend) Oil Oil number of wells: 27number of wells: 17 year: 2017year: 2012

Eni Corporate University Scuola Mattei 15 year technology life Cash Flow Off-Shore Field (hp: linear trend) 91 Mln € Mln € Mln € Year

Eni Corporate University Scuola Mattei Break Even Off-Shore (hp: linear trend) Oil Oil number of wells: 7number of wells: 5 year: 2007year: 2006

Eni Corporate University Scuola Mattei The technology has achieved: Improvement of oil and gas recovery rate Recovery of oil and gas from depleted fields Less requirements in terms of facilities and pipelines Quick recovery of the money invested Conclusion On the other hand: Reduced competitive advantage on the market Thank you