EIRL Newsletter - April 2016

ENI’S 2015 F ULL YEAR RESULTS

MULTICULTURALISM AND T HE P OWER OF L ANGUAGES

IS WORK GOOD FOR YOUR HEALTH ?

APRIL 2016. ENI INTERNATIONAL RESOURCES LTD. the internationeirl

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Work can be central to an individual’s identity, social role and status

IS WORK GOOD FOR YOUR HEALTH? DR MARY CHRISTOFOROU EIRL H EALTH MANAGER

There have been many studies and investigations on the benefits of employment, and it is generally believed that being part of the workforce is good for our health. There is strong evidence that work is generally good for physical and mental health and overall feelings of well-being.

For employment to benefit the individual, we must take into account the nature and quality of the work and its social context.

To get the most out of working, a job should be safe and accommodating. It can even be therapeutic! The beneficial effects of work outweigh the risks that are often associated to periods of unemployment or prolonged sickness absence.

Why is this?

The generally accepted theory about work and well-being is based on extensive evidence, through which we can measure that employment is the most important means of obtaining adequate economic resources, which are essential for material well-being and full participation in today’s society. Work meets important psychosocial needs and can be central to an individual’s identity, social role and status. Employment and socio-economic status are the main drivers of social gradients in physical and psychological wellness.

Furthermore, after a period of illness, returning to work not only helps recovery, it is the best way to prevent long-term sickness. Healthcare professionals, including the British Medical Association and the General Medical Council, agree that returning to work can lead to rapid improvements in health. The employee does not have to be 100% fit to return to the workplace but the earlier this happens the better, which seems to suggest that work is often part of the treatment. However, we will leave the last word to Confucius who said: “Getting back to work is part of the recovery process”.

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MULTICULTURALISM AND THE POWER OF LANGUAGES LISA MOSCATO INTERNAL COMMUNICATIONS

One of the many quotes attributed to Austrian philosopher Ludwig Wittgenstein was: “The limits of my language are the limits of my world”. My own experience of our wonderful, diverse and fascinating planet has been founded on the idea that awareness of language goes hand-in-hand with being able to understand and accept each other’s culture. In a global company like ours, we work in so many different cultures, we always need to be aware that what’s right for us may not be the same for someone else.

There are 72 nationalities in EIRL. This could mean that an Ecuadorian Engineer may be posted to Algeria, or vice versa. Understanding the cultures we mix in is somehow shaped by our awareness of the language of our hosts.

This could mean that those of a certain culture may believe that asking questions to a supervisor is a sign of disrespect, or that an expatriate supervisor who implements an open-door policy may become frustrated with the lack of input from his or her colleagues, and may have to take steps to convince them that their suggestions are encouraged and valued.

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My own experience of our wonderful, diverse and fascinating planet has been founded on the idea that awareness of language goes hand hand--in in--hand with being able to understand and accept each other’s culture

When an organisation attempts to evolve into a more culturally diverse one, there will be inevitable resistance. Some may find it difficult to adapt to the ways of colleagues from different cultural backgrounds to theirs, and this could lead to resentment. Since we all want to be part of a work environment that fosters teamwork and harmony, it would be nice if we could focus more on what we have in common as opposed to what makes us different.

In this respect, we are in the process of launching a new activity at EIRL’s London

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offices which I would like to call “Lunch & Learn”. With this, we encourage employees of different nationalities to take turns to exchange their mother tongue and cultural knowledge during their lunch break. It costs nothing, but is a very “hands-on” way to break down language and cultural barriers.

Language is not only a medium of communication, it is also closely linked to an individual’s identity. So having difficulty in identifying with other cultural groups may lead to negative assumptions and attitudes.

I feel that I am an example of linking language and culture through my own experience.

Let me explain. My father worked all of his life in our amazing company and I was raised speaking four different languages. Italian is my mother tongue, English was used in the American School I attended, but I also needed to communicate in both French and Arabic, as these were the languages spoken where I was mixing in the country where I lived; Egypt.

I remember spending hours with my friends conversing in the four languages. We would start off in English and switch, after only two sentences, to French, before switching to Arabic and then back to English.

The reason was probably because we used the language that was most suited to the concepts and ideas that we were discussing. For something that is best expressed in Arabic, no other language would do it better. And the same goes for Italian, French, Spanish or any other language!

It often happens that when I want to say something, depending on what I need to express, my mind will automatically go in search of the most appropriate language case

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stored in my brain and it will naturally pick the one which I know will express it best. The problem is that when I try to translate it into another language to make it understandable to the person I am talking to, I feel that sometimes part of the authenticity of the meaning gets lost.

However, I do feel that my multilingual background has contributed to making me not only more curious, but a little more tolerant, empathetic, and hopefully more adaptable to change.

Empathy, flexibility and adaptability are all traits that help you put yourself in someone else’s shoes, trying to understand others’ points of view, or avoiding being stuck in mindsets that may be more confined to one way of seeing things (the Italian way, the British way, the Egyptian way or the French way, for example). I really feel that these traits can help develop better abilities in speaking and being understood; listening and understanding.

I am sure that the more you open yourself to different ways of perceiving the world, through languages and life experiences, you understand that there is so much to know, that the world is full of options. You see the world’s nuances and different shades, and the whole place can become a little less “black and white”.

By Lisa Moscato Internal Communications Eni International Resources

On February 26th, Eni’s senior management delivered the company’s 2015 Q4 and Full Year results.

CEO Claudio Descalzi commented that in 2015, Eni delivered all its major strategic milestones, exceeding all main targets for the year. This was especially true of Eni’s outstanding exploration record and production growth rate and in the progress achieved in the turnaround of Eni’s mid and downstream businesses. The disposal programme brought excellent results due to the dilution of Eni’s stake in Saipem and the exit from Snam and Galp, which helped reduce the company’s debt

level to 22%, a 10 year low at a time when many in the industry are increasing leverage.

Eni is undergoing a company-wide efficiency programme which was initiated even before the drop in oil prices, and this has resulted in better than expected results thanks to the efforts of every global Eni employee. We are more resilient to deal with the ongoing oil price environment as we continue to focus on the core upstream business.

Our 2016 objectives are to concentrate on ever greater leanness and efficiency whilst further reducing capex and opex without compromising on production levels.

MAIN ACHIEVEMENTS 2015

UPSTREAM

MIDDOWNSTREAM

10% growth in production, double the initial target 1.4bn boe - discovered at unit cost of c.$0.7/boe

G&P — Close to breakeven, on track to hit 4-year plan targets

148% reserve replacement ratio — c.7bn barrels of conventional reserves, not including Zohr and Coral

Refining - EBIT breakeven thanks to better scenario and optimisation of refineries

GROUP Saipem — 12.5% disposal and debt repayment Exit from Galp and Snam confirms Eni’s strategy as an Oil & Gas company Versalis — Ongoing negotiations regarding sale

COST OPTIMISATION CAPEX: –17% UPSTREAM OPEX: –13% G&A: € -600M CAPEX COVERAGE: c.$50 / BBL LEVERAGE: 22%

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EIRL IS A TOP EMPLOYER UK FOR THE THIRD CONSECUTIVE YEAR !

On 10th February, we were thrilled to confirm that EIRL was officially certified as a Top Employer UK 2016. This is the third year we’ve participated, and we’ve achieved certification every time.

What is Top Employer UK? EIRL has been benchmarked against many of the biggest and best employers in the UK and we rank comfortably amongst them with our employee offerings, ranging from workforce planning through to training and development.

international employees. It also shows us our areas of strength, and which areas we could further enhance.

We’ll use insights from the research to launch initiatives addressing some of our weaker areas, and make working for us an even more positive experience. We’ll also regularly communicate with you about how working here is unique compared with elsewhere.

Read more about Top Employers here here..

The evaluation process lasts for several months.

For the 2016 award, the process began in May 2015, with the completion of a survey made up of almost a hundred questions. Top Employer then spends several months evaluating the responses; this year the Top Employers Institute made it even tougher to meet their minimum criteria for certification.

How did we do?

This year, EIRL achieved an overall score in the survey of 87% (this is a 6% improvement compared with 2015). This score positions us in the top 30 of all certified companies who took part this year, although Top Employer doesn’t publish the positions of the employers.

What are the advantages of being certified?

It’s great to be recognised by a third party for everything we do to help make working here a positive experience for our local and

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Gianluigi Mascheroni, Development, Compensation and Benefits Manager, accepting the award on behalf of EIRL

THE INSIDER’S GUIDE TO LONDON KATE SHERIFF INTERNAL COMMUNICATIONS In our regular “Time In…” column, we’ll be giving you a local’s guide to a different global Eni location. This time we’re taking a look at some unique and exciting things to see and do in London.

You won’t find traditional tourist destinations on this page.

Instead, we want to help you maximise your time in the city by seeing the things most regular visitors don’t know about. Click on the text in bold to visit their websites.

Thanks to all the London employees who have contributed their recommendations!

If you’re looking for some traditional British food, then you must try fish and chips. Try Hook in Camden Town, or Poppies in Spitalfields.

For Italian food, you’re spoilt for choice in London. At Bocca di Lupo, try to get a seat at the bar to watch the chefs make your meal! Another option is Cacio e Pepe, an authentic and welcoming local ristorante in Pimlico with dishes originating from Rome and other Italian regions.

Indian food is probably the UK’s most popular. Many tourists go to Brick Lane in East London for supposedly authentic Indian food, but we recommend Dishoom. You’ll probably have to queue for a table, but it’s worth the wait.

Afternoon tea is a very British tradition experiencing a recent renaissance. There are many places to indulge in little sandwiches, scones and pastries with a wide selection of teas. Try Sketch, The Sanderson, or see London’s landmarks while you eat and drink on the Afternoon Tea Bus Tour.

For an authentic local London evening, head to Brixton Village and Market Row for its independent shops, restaurants, cafés and delis with great value prices. This roof-covered market has transformed from its original grocery stalls, butchers and fishmongers to a cool destination for South Londoners.

Take a step back in time to the London Underground tube network of the 1940s, by visiting the Cahoots cocktail bar.

It’s one of London’s best kept secrets, but you will need to reserve a table in advance to secure a table!

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London is a frantic place, and the city and transport system are always very congested; Londoners lose their sense of humour as soon as they get on the bus/tube/train! For a humorous summary of how to get by easily, read this article by Time Out magazine. More information about travelling around London can be found at Transport for London.

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OUR LONDON TEAM HAS THESE OTHER GREAT IDEAS “The Prince Charles Cinema is arguably the best independent cinema in London. They always show some old classics and organise theme nights like sing-alongs, all-night movie marathons and more. Also, a good way to plan your time and find things to do in London is to use one of these free smartphone apps while you’re here: Yplan, Fever, or Dojo”.

Marie Alayrac, Payroll “Visitors to London can save a lot of money on the sightseeing bus and instead take bus number 211 from Victoria to see some of the main sights of London (Parliament Square, Westminster Abbey, Westminster Bridge, Big Ben, London Eye)“.

Carol Peters, Training & Development “Get some exercise at Pineapple Dance Studios in Covent Garden. I attend regular pilates/dance classes there and you can do ad hoc classes in the same place that performers for West End theatre shows, TV and movies all rehearse their routines!”

Christine Clements, HR Operations “The Walks of London’ Knights Templar tour by historian Richard Jones is a must for anyone who loves Dan Brown’s book “The Da Vinci Code”. The UK has a lot of this kind of history, especially in the financial district’s “square mile”, like the underground of the Knights Templar”.

Tony Rai, Finance “If you love literature, I suggest a visit to the unusual Word on the Water bookshop on the Regent’s Canal. You can also enjoy a walk along the canal afterwards. It’s a beautiful place”.

Marco Crimaldi, Health Advisor “I would definitely recommend to visit the Muswell Hill area. It’s like a little London inside London. The area is trendy and beautiful, with a mix of popular brands and authentic, independent shops. Alexandra Park is also close by, where you can see Alexandra Palace (though it’s not a palace anymore; it serves as a venue for ice-skating and other things)”.

Ana Serkova, HR Operations “If you want to see Alexandra Palace, you could try the Parkland Walk, a 4.5 mile walkway and nature reserve which follows the course of the railway line. The walkway is covered in trees and provides tranquillity and a chance to enjoy a green environment in the very heart of the city.

There are a number of places to stop en route for food and drink”.

Margaret Sztandera, Training & Development “For a special occasion, the Tramshed is renowned for steak and chicken; so much so that the dining room is dominated by Damien Hirst’s imposing “Cock’n’Bull” (a cow and a chicken preserved in formaldehyde). Don’t worry, they’re not on the chef’s menu! But I recommend the sirloin steak or the Indian Rock Chicken and chips. Also not on many tourist itineraries, The Barbican Centre is actually Europe’s largest performing arts centre. Its Brutalist design earned it the label of “London’s Ugliest Building” in 2003, although there are many who love it.

It’s home to The London and BBC Symphony Orchestras and is the London home of the Royal Shakespeare Company. The various spaces mean you’ll always find something interesting”.

Ian Martin, Internal Communications and Change Management “The famous 24-hour Beigel Bake in Brick Lane is an institution for a late night snack after a night out. Their authentic Jewish bagels have attracted customers since 1977!”

Esther Indge, HR Compliance “Evans and Peel is not just a bar, but a totally immersive experience.

Make a reservation in advance, and invent a good “criminal case” story for them to solve. The entrance is very discreet. Ring the buzzer and you'll be escorted down to the “office”, where a “detective” will go over your case. Then once in, you can order a great cocktail and the food is also great and not too expensive”.

Tamara Rynkiewicz, HR Operations

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