Self Assessment Process

According to international best practices and the provision of Eni Code, the Board of Directors has launched, for the fifth consecutive year, a self-assessment program (board review) on the Board of Directors and its Committees, referring to financial year 2010.

The board review was carried out with the support of a specialized and independent external consultant, as recommended by the Eni Code to ensure objectivity, and was based on individual interviews conducted by the consultant with the individual Directors, involving also the Chairman of Statutory Auditors and the Company Secretary on specific aspects of the functioning of the Board.
Given the expiry of the Board with the approval of the 2010 annual financial statements, the Board considered it appropriate that the board review this year will concentrate primarily on the results of previous self-assessment and in particular on areas that presented opportunities for improvement, in order to verify the progresses over the previous year.
The results of interviews conducted by the consultant were presented at the Board meeting of March 10, 2011, that discussed them. It emerged the confirmation of the strengths highlighted in previous self-assessments and improvements in other areas. In particular, it was revealed the good atmosphere in Board's works, the availability of clear, timely and comprehensive data and information in view of the decisions to be taken, and the widespread availability of time for Board's discussion.
The role and functioning of the committees have met with general appreciation by the Board. In particular, it was confirmed the appreciation for Internal Control Committee's work, performed with competence and commitment, for the purpose of risk management, and the successful coordination with the Board of Statutory Auditors.
The Oil-Gas Energy Committee is perceived by Directors as a useful mean to study, in favour of the entire Board, also for the particular experience and expertise of its President. It was finally suggested, in view of the renewal of the Board, the establishment of a Nominations Committee.
In order to further enhance the contribution of non-executive Directors, the Directors currently in office have also recommended to repeat, also for the new Directors, the induction program that took place immediately after the installation of the current Board, and to continue this program during the years of their mission to deepen the knowledge of the operational activities.