1998 – Basilicata oil to oil.Back to the timeline
February - Eni signed a multi-project agreement with the Russian company Oao Gazprom (formerly Rao G.) in the hydrocarbon and natural gas, electricity and cogeneration sectors.
February – An agreement was signed with the Egyptian state-owned company EGPC to set up a gas transportation system in Egypt and to connect Port Said with the north-east part of the Sinai peninsula via gas pipeline.
1 June – The agreements signed between Eni and the Unione Nazionale Aziende Produttrici e Consumatrici di Energia Elettrica (national union of electricity producers and consumers companies) was signed to supply natural gas to producers of electricity for third-parties.
July – The fourth placement of Eni shares on the stock market was completed.
31 December – Ip Spa was merged into Agip Petroli Spa, as part of company reorganisation plans, although the two brands continued to trade under their own names, and logistics operations in the sector were concentrated in Genoa.
Eni signed a memorandum of understanding with the Basilicata regional government to develop oil deposits in the Val d’Agri and to construct an oil pipeline connecting the Oil Centre to the Taranto refinery.