Eni S.p.A, an Italian integrated energy company, has entered into an agreement with the Ministry of Mines, Oil and Energy of Côte d’Ivoire, for acquiring four new exploration blocks, namely CI-504, CI-526, CI-706 and CI-708, off the coast of the country. The agreement should enable Eni to continue exploration activities in the area for nine years.
The blocks CI-504, CI-526, CI-706 and CI-708 span an area of approximately 5,720 square kilometers. The water depth at the site ranges between 1,000 meters and 3,500 meters. Eni has been active in Côte d’Ivoire since 2015. The company currently operates six deepwater blocks in the country, including CI-101, CI-205, CI-401, CI-501, CI-801 and CI-802, in partnership with Petroci Holding.
The four offshore blocks acquired by Eni lie close to the Calao discovery in Block CI-205. This implies that the company can leverage its existing resources and create further synergies in the region. E’s current production from the region amounts to approximately 22,000 barrels of oil equivalent per day (boe/d).
Eni’s exploration activities in Côte d’Ivoire have resulted in two of the largest hydrocarbon discoveries in the region until now. These discoveries — Baleine and Calao — have significantly added to the country’s production potential. The company is actively working to increase production from these fields. It is making quick progress on the Baleine development. E plans to launch Baleine Phase 2 just a year after the start-up of Baleine Phase 1. The second phase of the development is scheduled for launch in December 2024.
The start-up of Baleine Phase 2 is expected to increase the total production from the Baleine field to around 60,000 boe/d. The associated gas from this field amounts to 70 million cubic feet (mcf) of gas. Eni stated that Baleine Phase 3 is currently under development and it is working toward capitalizing on this development’s full potential. The third phase of the development is anticipated to raise the production to 150,000 boe/d, along with 200 mcf of associated gas.
Eni’s continued exploration efforts in the West African nations are expected to significantly boost its hydrocarbon reserves and production capabilities. By increasing production from these discoveries, Eni is also contributing to the country’s energy security while establishing itself as a prominent exploration player in the region.
