NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) has been awarded a substantial(1) Engineering, Procurement, Construction, and Installation contract by Eni S.p.A. for the Coral North development, the second floating liquefied natural gas (FLNG) project offshore Mozambique, in water depths of approximately 2,000 meters. Jonathan Landes, President, Subsea for TechnipFMC, commented: "We are excited to once again work with Eni and their consortium partners in Mozambique. We will leverag. ...

Group 1 - Subsea 7 S.A. has agreed to reimburse Siem Industries S.A. for legal costs related to the proposed merger with Saipem S.p.A., totaling under $1 million [1] - The Shareholders' Agreement ensures that Eni S.p.A., CDP Equity S.p.A., and Siem Industries S.A. will vote in favor of the merger, promoting a balanced leadership and governance structure [2] - The transaction is classified as a related party transaction, and Kristian Siem and Louisa Siem abstained from voting on the reimbursement in compliance with SRD II and Luxembourg Company Law [3] Group 2 - Subsea 7 is recognized as a global leader in delivering offshore projects and services for the energy industry, focusing on sustainable value creation [3]

Core Insights - Eni S.p.A. reported strong third-quarter 2025 results with a 6% year-on-year production growth and record upstream performance, leading to an increase in full-year cash flow outlook and a 20% rise in share buyback program to €1.8 billion [1][2] Financial Performance - Proforma EBIT reached €3 billion and net profit was €1.2 billion, which is 20% above expectations, while operating cash flow stood at €3.3 billion despite weaker oil prices and a stronger euro [2][6] - Full-year cash flow from operations before working capital is now expected to be €12 billion, up from €11.5 billion, with a buyback plan increase of €300 million [2] - Gross capital expenditure was €2 billion, and net debt is reported at €9.9 billion, maintaining a proforma leverage ratio of 12% [6] Production and Upstream Growth - Eni's upstream division was a key growth driver, with oil and gas production climbing to 1.76 million barrels of oil equivalent per day [3] - Significant milestones included the final investment decision on the Coral North FLNG project in Mozambique, the sale of a 30% stake in Côte d'Ivoire's Baleine field for €1 billion, and the early launch of the Agogo West Hub in Angola [3] Energy Transition Strategy - Eni is advancing its energy transition strategy, with its renewables arm, Plenitude, achieving 4.8 GW of installed capacity and targeting 5.5 GW by year-end [4] - The company is converting refining hubs to biofuel and circular production, while its chemicals arm, Versalis, is shifting towards battery and recycling ventures [4] - A new satellite joint venture with Global Infrastructure Partners aims to expand Eni's carbon capture and storage (CCUS) portfolio, with a €2 billion investment from Ares Fund into Plenitude nearing completion [4] Strategic Structure and Value Generation - Eni's "satellite" model, which involves spinning off specialized entities like Plenitude, Enilive, and Azule Energy, continues to generate value and steady cash inflow [5] - This strategic structure allows the company to maintain a leverage ratio of just 12% on a pro forma basis, ensuring accelerated growth and stable dividends while maintaining balance sheet strength [5]

Eni S.p.A. (BIT: ENI) purchased 3.38 million of its own shares for nearly €50 million during the week of October 13–17, 2025, as part of its ongoing share repurchase program authorized by shareholders earlier this year. The Italian energy major acquired 3,376,122 shares—equivalent to about 0.11% of its share capital—at a weighted average price of €14.81 per share, totaling €49.99 million. The purchases were executed on the Euronext Milan between October 13 and 17, 2025. Since launching the current buybac ...

Core Insights - Eni S.p.A. has executed a share buyback of 3,283,799 shares at an average price of €15.23, totaling €49.99 million, as part of its ongoing buyback program approved in May 2025 [1] - The total shares repurchased since May 20, 2025, have reached 65 million, representing 2.07% of Eni's share capital, with an overall expenditure of €930 million [2] - Eni's buyback initiative is part of a broader shareholder remuneration strategy that aims to optimize capital structure and enhance investor returns amid energy market volatility [3] Company Strategy - Eni is balancing traditional oil and gas operations with investments in low-carbon energy, reflecting a strategic shift in response to market conditions [4] - Share buybacks are increasingly utilized by major European energy companies, including Shell, BP, and TotalEnergies, to demonstrate financial strength and return excess cash to shareholders [4]