The 90s

Eni becomes a joint stock company

From being a public corporation Eni is now transformed into a joint stock company. Most of Eni's Share capital is put on the market in four successive public issues.

Agip's international activities expand with new acquisitions in Algeria, China, Angola, the North Sea and Egypt.

Important new agreements are signed with Kazakhstan, Azerbaijan and for the nigerian and angolan deep water offshore.

The "Aquila" deepwater field (Otranto Channel) is brought into production. Eni incorporates Agip, Thus becoming directly an oil and gas producer. Eni's daily oil and gas production reaches 1 million barrels of oil equivalent.

1992 The law is passed to transform Eni into a joint stock company.

1993  Contracts and agreements signed for oil exploration in Kazakhstan, China and Russia.

1995 First issue of Eni shares on the stock market.

1996 In Egypt the Port Fouad offshore gas field starts production.

1997 Two major agreements signed with Kazakhstan: Karachaganak Project and Caspian Project.

1998 Azerbaijan: exploration, development and production agreement in the Caspian Sea offshore. Thanks to SAF (Sistema Alti Fondali – Deep Seafloor System) the Aquila offshore field in southern Adriatic comes into production. Eni incorporates Agip thus stressing its core business (oil and gas exploration and production). Following the fourth public issue on the world's leading stock markets, a majority of the company's shares are now held by private investors.

1999 Eni-Gazprom agreement for the Blue Stream Project: this is a gas pipeline which will link the russian coast on the Black Sea to Turkey and involves laying gasline beneath the Black Sea at water depths of up to 2,100 meters