Eni SpA and its partners have made a final investment decision (FID) to proceed with the third-phase development of Côte d’Ivoire’s biggest hydrocarbon discovery.
Phase 3 of Baleine, discovered about 5 years ago off the Atlantic coast of the West African country, will increase the field’s oil production from 60,000 to 150,000 barrels per day and natural gas output from 80 to 200 million cubic feet a day, according to a press release by the Italian state-controlled energy major.
“All gas produced will be allocated to the domestic market, contributing to Côte d’Ivoire’s energy needs, expanding electricity generation and supporting the country’s industrial development”, Eni said.
Phase 3 includes a new floating production, storage and offloading vessel. “It builds on the phased and fast-track development model already implemented in Baleine’s first two phases, enabling early production while optimizing costs and leveraging existing infrastructure”, Eni said.
Baleine, which in 2021 became the Ivory Coast’s first commercial fossil fuel discovery since 2001, currently produces over 62,000 barrels a day of oil and more than 75 million cubic feet per day of gas, according to Eni.
Currently Eni owns 47.2 percent in Baleine, which will be reduced to 37.2 percent after the completion of a 10 percent sale to the State Oil Company of the Azerbaijan Republic (SOCAR). Vitol holds 30 percent. Ivory Coast’s state-owned Petroci has 22.75 percent.
“The transaction [with SOCAR] aligns with Eni’s strategy of optimizing its upstream portfolio by accelerating the monetization of exploration discoveries through the divestment of equity stakes, a model known as the dual exploration model”, Eni said in a press release January 22.
Calao South Discovery
Also this year Eni made a “significant” gas and condensate discovery under a separate license in Ivorian waters, Block CI-501.
Calao South, or the Murene South-1X well, reinforces the Calao channel complex as the Ivory Coast’s second-biggest proven hydrocarbon site after Baleine, according to Eni. In the adjacent CI-205 block, Eni discovered Calao (Murene-1X) in 2024, declaring it the second-largest fossil fuel discovery in the Ivory Coast with preliminary estimates of 1-1.5 billion barrels of oil equivalent.
“The discovery, named Calao South, confirms the potential of the Calao channel complex that includes also the Calao discovery and represents the second largest in the country after Baleine, with estimated volumes of up to 5.0 Tcf [trillion cubic feet] of gas and 450 million barrels of condensate (approximately 1.4 billion barrels of oil)”, Eni said in an online statement February 16. “The discovery was made in high-quality Cenomanian sands”.
Murene South-1X “confirmed the main hydrocarbon bearing interval with a gross thickness of around 50 meters [164.04 feet], with excellent petrophysical properties”, Eni said. “Murene South-1X will undergo a full conventional drill stem test to assess the production capacity of the Calao discovery”.
Calao South sits about eight kilometers southwest of Calao, according to Eni.
Eni operates Block CI-501 with a 90 percent stake. Côte d’Ivoire’s state-owned Petroci Holding holds 10 percent.
To contact the author, email jov.onsat@rigzone.com
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