The company posted a profit of €5.2 billion ($7.09 billion) for 2013, down from the 2012 figure of €7.79 billion.
Eni said the decline was based on interruptions to production, the appreciation of the euro and ongoing competition pressures.
Profit was squeezed further by a poor refining market with margins falling to “an unprecedented level” across the Mediterranean.
Eni said it made less than €1 per barrel because of overcapacity, lower demand and increasing competition.
Full-year
