ENI is a recently evolved oil and gas organization and is considered to be six largest organizations in this field. At present the organization claims to operate in more than 90 countries and has employees of strength more than 78,000(Howarth, Santoro and Ingraffea, 2017). Eni annual report of the year 2012 is created using the framework of IIRC (International Integrated Report Council). An integrated report is nothing but a concise type of communication about the fact that how an organization strategy, prospects with respect to any kind of external environment. The key goal of Integrated Reporting (IR) is improvise accountability and is dependent on six types of factors namely financial, manufacture, human and lastly social. IR is mainly designed in such a way that is focus or address three specific areas namely like integrated thinking, actions and lastly decision making. It also addresses on creation of sustainable value for large number of stakeholders (Boxall, Chan and McMillan, 2015). The company holds a strong position in oil and gas industry and is involved in wide range of functions ranging from exploration phase of hydrocarbon to marketing phase. This organization makes use of engineering and project management so that it can easily catch opportunities and can easily develop certain number of integrated project.
In the coming pages of the report various kinds of parameters like background of project, objectives and strategies has been discussed in details. Other important parameters like stakeholders of the project, context of business, case of business, current business process and problems has been discussed with respect to this organization that is Eni.
In the gas market of Europe, Eni is more focused in securing of energy supplies with the help of unique and integrated model of business. Eni is mainly involved in supplying, trading and marketing of various kinds of LNG and other natural gases (Sadorsky, 2016). The organization is also involved in the generation and sale of electricity. In Italy, this organization is considered to be first operator in the domain of refining business and has around five refineries. It is also considered to be leading distributor of various kinds of petroleum products. For any kind of energy organization like Eni economic growth and improvement of reputation is considered to be an important catalyst for any kind of external development (Brandt et al ,2014). Eni is focused in creation of sustainable value and major amount of attention is paid to main sector like exploration and production. It mainly addresses three business drivers like to be local, maintenance and development of in-house competence and lastly managing and overcoming of various kinds of risks.
To be local focuses on hiring of staff along with opportunity for growth and progress in carrier. This organization invest a huge of money in providing quality of training to its staff members(Siliverstovs, 2015). To be local focus on creation of opportunities for business which will ultimately contribute for the upgradation of local communities. This type of approach mainly addresses the protection of interest of stakeholders and shareholders.
Eni is more focused in development and enhancement of abilities so that can easily focus on adoption of own technologies and maintenance of in-house competence. This mainly addresses of the process of technical kind of decision making and it also addresses on increasing the efficiency of overall processes. Eni has minimized the risk and excellent results which can be in the term of exploration and production.
For proper management and mitigation of risk Eni has make use of certain number of strategies (Yeh, 2017). These strategies are considered to be helpful in minimizing of accidents and reduction of impact on the environment. The operation risk at Eni provides a biggest threat to various kinds of upstream activities in various kinds of domains like environment, reputation and risk. As a result of this organization is more stressed in providing industry dependent products which are based on safety. The strategy is mainly used for prevention of various kinds of drilling accidents which is generally based on strong competences for improvisation of process and a performance dependent approach (Theodori, 2018). Eni has developed a certain number of procedure which can be used for safety and performance. There is effort on a continuous basis which is used for overcoming of risk to people, asset and environment in which Eni operates.
The building or creation of sustainable value can be achieved through a particular business model which focuses on asset and strategic guidelines along the entire value of chain. This particular model is mainly characterized by certain number of activities which has a framework for proper governance along with ethical standards by continuous interaction with large number of stakeholders. After the implementation of company mission and running on day to day operation it addresses a large of problems or issues. There are certain number of key drivers in it that are Cooperation, Integration, innovation, excellence, inclusion and lastly responsibility.
Cooperation focuses on upgradation or development of territories in which Eni works. It mainly addresses local needs and its willingness to contribution for various kinds of fulfilment. Integration of various kinds of activities in energy supply management focus on crucial type of energies which addresses challenges in the market and aims in ensuring competitive advantage. Innovation can be considered to be a key element which can be used for accessing various kinds of energy resources from various kinds of subsoil and efficiency (Spence, 2014). It also ensures respect and responsibility for the use of various kinds of natural resources. Excellence can be used for advancement of technology and safety system for ensuring full respect to large number of community and environment. Inclusion in the Eni people can be defined as the broad capacity which generally combines with health and safety protection in the working environment. Responsibility factor mainly addresses commitment to business management which ultimately helps in fighting of large number of corruption.
Eni has designed the strategies in such a way that it can be used for increasing the profit for the production of oil and gas in the upstream and after that capturing of opportunities which can be used for high reward (Ladd, 2013). It generally provides strengthening of competitive position in some of the well-known areas. It also aims in increasing the volume of operation production which provide Eni in delivering on the basis of on-time schedule. Maximizing of flexibility of asset can be considered to be a source for the gain of long term value for the organization and followed by gain in competitive advantage.
The business model of Eni is followed by a proper analysis on external type of competitive environment (Gilman et al, 2013). IR defines a number of ways which can be used for industrial challenges and followed by description of challenges which can be used for increasing competitive advantage. The action in Eni is implemented can be used for long term gas supply in strengthening of position in the industry of LPG (Liquefied Natural Gas). It mainly focuses on certain number of downstream sector like improvisation of efficiency, chemical and various kinds of general services. It is an important factor to note that sustainability is considered to be a part of driver which enables this organization to consider itself as a part of strategy rather taking it as a separate element (Davis, 2012). So sustainability can be considered to be a part of strategy which aims in achieving certain of goals of business.
Eni is considered to be an effective governance which is generally based on certain number of business models. Corporate governance mainly addresses a large number of mission which can be used for ensuring compliance with standard of fairness and cost effectiveness. The governance system is designed in such a way that it can be used for supporting trust between Eni and all of its stakeholders (McKenzie et al., 2012). The business strategies of Eni help in achievement of stable result and creation of sustainable value for a long period of time. The corporate governance of Eni is designed in such a way that it can easily address roles and responsibility held by large number of members. The business model of Eni is designed in such a way that it can be easily used for providing continuous interaction with large number of stakeholders. The combination focuses on six areas like integration, cooperation, innovation, inclusiveness and responsibility. In particular, the organization focus on responsibilities for decision making and proper monitoring. It mainly checks on the responsibilities in the domain of internal control and various kinds of risk management.
For providing a full picture of the organization and proving of sustainable results plays an important role which can be used for economic and financial results. Eni has certain number of consolidate sustainability statement and it works according to the stakeholders and context of sustainability. The statement of sustainability statements focusses on effective integrated business model (Merrill and Schizer, 2013). This policy addresses for reduction for energy in terms of cost. It mainly checks how Eni calculates certain number of report which can be used by stakeholders. Eni has make use of certain number of principle which can be used for connectivity and it focuses much on value of creation for the company. For achievement of goal, IR of Eni focus on detail description which can be used for analyzing the strategy of organization and creation of value for overtime. The ultimate goal is breakdown which can be used for establishment which can be used for accessing silos, followed by managing, disclosing and overcoming of data containing information. Overcoming of information for silos has provided a platform which can be used for dynamic creation of value. This can be considered to be useful for both internal top management and refining of decision making processes. It can be considered to be important for external stakeholders which is inclusive of capital providers which can be used for improving the decision making.
Risk management addresses some of the deeper understanding which can be used for effective ability for managing of risk and achievement of certain number of goals and objectives. Eni has developed and adopted integrated risk management model which can be used for having main kind of risk and strengthening of awareness in the organization. It mainly checks impact of risk on the idea of value creation. It mainly highlights some of the important factor like Risk management system of Eni which is inclusive of various kinds of risk which can affect the organization (Arouri, Jouini and Nguyen, 2012). The basic feature of risk management of Eni is the IRM model which is generally integrated and cross-sectional assessment is generally done on the risk as per the ranking on the factor of probability and its impact. In assessing the level of impact it addresses both the level of management that is qualitative and quantitative aspects.
The second aspect is taken to be the governance of risk which provides a central attribute to role of the board of directors. The board mainly provides support for controlling of risk and providing some of the guidelines for risk management. It mainly checks that corporate risk is check properly and after that it is managed and monitored properly.
Eni is much focused in development certain number of strategies which can used of procedures and making use of investment which can be used for minimization of probability of accidents and certain number of risk or any kind of effect on the environment. As a result of this the organization is committed in maintenance of industry leading results and is more focused on operation safety.
The strategy is more focused on various kinds of drilling accidents and is more focused on providing improvisation of processes, technologies and performance depended approaches. In the domain of technologies this organization that is Eni is much focused to provide distinct portfolio which can be used for achievement of higher standards of safety and performance (Wang et al., 2014). Eni is much focused on improvement on the performance of HSE which makes use of certain number of incentive scheme. There are continuous efforts being used for overcoming of certain number of risk to certain factors like people, asset and environment which are considered to be a crucial part of activities. It has ultimately led to two results that is decreasing the frequency injury rate and zero blow in the last few years.
This organization that is Eni began the method of integration in the year of 2010 when the notice of public sustainability was provided. The main reason behind this decision was making use of opportunity which can be used for making use of opportunity. There are certain number of external factors which affected the decision and this generally inclusive of certain number of laws and regulation. Soon this firm that is Eni is much focused in providing a new approach which is needed for communication for its business models and performance of certain number of stakeholders. The main idea was to develop certain number of tool so that integrated management tool can easily focus on management of tools which can be considered helpful for management for overcoming certain number of risk like management, reduction and making use of new opportunities.
Conclusion
From the above discussion it can be concluded that is report is all about Eni which is known be oil and natural gas organization. This particular organization is the largest producer and supplier in terms of energy in Rome. Various important terms like strategy, approaches and business and technologies with respect to this particular organization has been discussed in details. At present Eni is undergoing a certain number of technological and cultural type of changes. A proper analysis has been done on integrated report and objectives based on sustainable objectives and research. At the time of analysis, a certain number of topics has been addressed like background of project, objectives and involved strategies. In European market this particular organization that is Eni is more focused on providing securing energy by making use of unique and integrated type of business model. Eni operates in various kinds of function like supply, trading and market based on natural gas and LNG and is more focused in generation and selling of electricity. This organization is considered to be leading distributer of products which are based on petroleum. It is considered to be leading contractor for supply of engineering, project management and construction. It is considered to be largest international organization which is used for serving onshore and offshore markets which are based on oil and gas. Various kinds of stakeholders, context of business and statement of all the current process and problems has been discussed in details in the above pages of the report. In the end analytical and modelling skill has been shown or represented by making use of well known software which is known as CMap.
References
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Boxall, P.C., Chan, W.H. and McMillan, M.L., 2015. The impact of oil and natural gas facilities on rural residential property values: a spatial hedonic analysis. Resource and energy economics, 27(3), pp.248-269.
Brandt, A.R., Heath, G.A., Kort, E.A., O’sullivan, F., Pétron, G., Jordaan, S.M., Tans, P., Wilcox, J., Gopstein, A.M., Arent, D. and Wofsy, S., 2014. Methane leaks from North American natural gas systems. Science, 343(6172), pp.733-735.
Davis, C., 2012. The politics of “fracking”: Regulating natural gas drilling practices in Colorado and Texas. Review of Policy Research, 29(2), pp.177-191.
Gilman, J.B., Lerner, B.M., Kuster, W.C. and De Gouw, J.A., 2013. Source signature of volatile organic compounds from oil and natural gas operations in northeastern Colorado. Environmental science & technology, 47(3), pp.1297-1305.
Howarth, R.W., Santoro, R. and Ingraffea, A., 2017. Methane and the greenhouse-gas footprint of natural gas from shale formations. Climatic Change, 106(4), p.679.
Ladd, A.E., 2013. Stakeholder perceptions of socioenvironmental impacts from unconventional natural gas development and hydraulic fracturing in the Haynesville Shale. Journal of Rural Social Sciences, 28(2), p.56.
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