Eni has made major gas finds in Mozambique and Egypt, and announced on 1 March that it was looking to add up to 3 billion barrels of new resources out to 2020 even as it cut investments by 13%.
Eni beat expectations with Q4 adjusted net profit of €459 million (US$484 million) helped by lower spending and higher oil prices.
Eni, which will reap the benefit of a ramp-up at Kazakhstan's giant Kashagan field, expects output this year to jump by 5% as key projects in Angola, Ghana, Indonesia and Egypt come on stream ahead of schedule.
To deal with the gas finds, the company said it aimed to develop its LNG business.
