Eni has signed contracts with Côte d’Ivoire’s Ministry of Mines, Oil and Energy to acquire four new offshore exploration blocks.
This agreement, signed in Abidjan during the first SIREXE event, the International Exhibition of Extractive and Energy Resources, is said to enhance Eni’s position in the West African Nation, also known as Ivory Coast.
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The new blocks, CI-504, CI-526, CI-706 and CI-708, span approximately 5,720km² at water depths of 1,000–3,500m.
These blocks are located near the Calao discovery in Block CI-205, offering potential synergies, the company noted.
Eni has been granted exploration rights for up to nine years, which could lead to further discoveries and development in the area.
The Italian oil and gas major has been active in Côte d’Ivoire since 2015, producing around 22,000 barrels of oil equivalent per day (boepd).
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By GlobalDataThe company also operates six other blocks in Ivorian deep water – CI-101, CI-205, CI-401, CI-501, CI-801 and CI-802 – in partnership with Petroci Holding.
Eni has made discoveries in the region, including the Baleine and Calao fields, and is working to increase production.
One year after the start-up of Baleine Phase 1, the company is gearing up for phase two, set to launch in December 2024.
This phase will boost production from the Baleine field to 60,000 barrels of oil per day (bopd) and 70 million cubic feet (mcf) of associated gas.
During phase three, currently under evaluation, production is expected to rise further to 150,000bopd and 200mcf of associated gas.
Earlier this month, Eni completed the $1bn sale of its Nikaitchuq and Oooguruk oil assets in Alaska to Hilcorp, part of its strategy to divest non-core assets.
Signed in June 2024, the deal marked a step in rebalancing its portfolio.
In 2023, the two fields contributed approximately 20,000bpd, or 1.2% of Eni’s total production.
