The Italian oil and gas company Eni and the Ministry of Mines, Oil and Energy of Côte d’Ivoire have signed contracts for the acquisition by Eni of four new exploration blocks off the country’s coast. The blocks CI-504, CI-526, CI-706 and CI-708 cover a total area of about 5,720 km2 with a water depth ranging between 1,000 and 3,500 m. Under the deal, Eni will be able to explore the area for up to 9 years.
Eni has been present in Côte d'Ivoire since 2015 and currently has an equity production of around 22 kboe/d. The company already operates 6 blocks in the Ivorian deepwater: CI-101, CI-205, CI-401, CI-501, CI-801 and CI- 802. Eni has already made the two largest discoveries to date in the country, Baleine and Calao. Phase 1 of the Baleine project is already online, and two other phases are planned for development by Eni. Phase 2, planned for December 2024, will bring production to 60 kb/d and 2 mcm/d of associated gas, while Phase 3 will increase production to 150 kb/d and 5.6 mcm/d.
In June 2024, the government of Côte d’Ivoire announced plans for a more than three-fold increase in oil production in the country by 2027, as output is expected to grow from around 60 kb/d to about 200 kb/d by 2027.