Claudio Descalzi

Claudio Descalzi has served as CEO of Eni since 2014, making him one of the longest-tenured leaders among European energy majors. A career Eni employee who joined as a petroleum engineer in 1981, Descalzi rose through the exploration and production ranks, leading major discoveries in Mozambique (the Coral and Mamba fields) and Egypt (the giant Zohr gas field in the Mediterranean — one of the largest gas discoveries of the 2010s). Descalzi's strategic vision has been to transform Eni from a traditional oil and gas company into a multi-energy group through what he calls the "satellite model" — creating distinct business units that can attract dedicated investors and potentially be partially listed. Plenitude (renewables, EV charging, and retail gas/power) and Enilive (biorefining and sustainable mobility) are the two main satellites. Eni has also made headline-grabbing investments in nuclear fusion (through CFS/MIT's SPARC project) and proprietary magnetic confinement technology. His leadership of Eni's upstream operations has been marked by a focus on high-value, short-cycle projects — particularly in North Africa, sub-Saharan Africa (Congo, Mozambique, Ivory Coast), and the Eastern Mediterranean. Key challenges include managing the dual imperative of maintaining oil and gas production (which funds the transition) while growing renewables and biofuels, navigating Italian government expectations (the Italian state owns approximately 30% through Cassa Depositi e Prestiti and Treasury), and executing the Plenitude and Enilive IPOs at attractive valuations. Oil prices and the satellite model execution are the primary stock drivers.