This transaction encompassed 40 oil and gas fields, 12 production facilities, three gas processing plants, the Brass River Oil Terminal, and the Kwale-Okpai power plants.
This divestment aligns with Eni’s strategy to streamline its upstream operations by shedding non-core assets.
The recent signing in Côte d’Ivoire further strengthens Eni's foothold in the region, as stated by the company. The blocks CI-504, CI-526, CI-706, and CI-708 span approximately 5,720 square kilometers, with water depths ranging from 1,000 to 3,500 meters.
Eni noted that their proximity to the Calao discovery in Block CI-205 presents a strategic opportunity for enhanced synergies in the area.
Under the terms of the agreements, Eni is authorized to explore these areas for a duration of up to nine years.
Since its entry into Côte d’Ivoire in 2015, Eni has achieved an equity production of around 22,000 barrels of oil equivalent per day. The company currently operates six deepwater blocks in the country: CI-101, CI-205, CI-401, CI-501, CI-801, and CI-802, all in partnership with Petroci Holding.
Eni has made the two largest discoveries in Côte d’Ivoire to date, Baleine and Calao, and is actively working to significantly boost its production levels.
Following the successful completion of Baleine Phase 1, the company is preparing for the commencement of Phase 2 in December 2024.
This phase is projected to increase total Baleine field production to 60,000 barrels of oil per day and 70 million cubic feet of associated gas (equivalent to 2 million cubic meters). Phase 3, currently under evaluation, is anticipated to further elevate production to 150,000 barrels of oil per day and 200 million cubic feet of associated gas.