Operating review
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Technical investments |
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|
(€ million) |
2011 |
2012 |
2013 |
Change |
% Change |
|
Development of new fields (greater return of 4% over 16 years) |
193 |
95 |
154 |
59 |
62.1 |
|
Upgrading of capacity (greater return of 4% over 8 years) |
65 |
99 |
62 |
(37) |
(37.4) |
|
Maintenance and other |
38 |
39 |
35 |
(4) |
(10.3) |
|
|
296 |
233 |
251 |
18 |
7.7 |
Technical investments in 2013 amounted to €251 million, an increase of €18 million, or 7.7%, compared with 2012.
Investments were classified in accordance with Resolution ARG/gas 119/10 of the Electricity and Gas Authority, which identified various categories of projects with different rates of return. A total of 86.0% of investments are expected to benefit from a greater return. The breakdown of investments in 2013 by category will be submitted to the Authority when the tariff proposal is approved for 2015.
Investments with a greater return of 4% over 16 years (€154 million) relate mainly to development activities at the Bordolano and Fiume Treste fields for the drilling of wells, the delivery of materials and the execution of work on the plants, as well as to engineering activities relating to the development of the Alfonsine field.
Investments with a greater return of 4% over eight years (€62 million) refer to drilling and repowering activities at the Fiume Treste, Sabbioncello, Minerbio and Settala fields.
