Côte d'Ivoire: Eni to spend $40m on exploring two additional blocks around Baleine di


Italian major Eni has secured a 70% interest and operatorship of another two blocks in Côte d'Ivoire – CI-401 and CI-801

Italian major Eni has secured a 70% interest and operatorship of another two blocks in Côte d'Ivoire – CI-401 and CI-801, according to a release by the country’s Cabinet. The company’s partner on both licenses is national oil company PETROCI, who holds the remaining 30%.

The two blocks are just adjacent to the Eni-operated Block CI-101, where the Baleine discovery was made last year with estimated reserves of 2bn barrels of oil and 2.4 Tcf of gas. Eni is now fast-tracking the development of the field to achieve first oil in 2023 (Phase 1) and the full field development in 2026 (Phase 2).

By exploring in adjacent blocks CI-401 and CI-801, Eni is sticking to its global infrastructure-led exploration strategy by which it explores around its existing producing infrastructure.

The first exploration periods for both blocks CI-401 and CI-801 require Eni to spend a minimum of $40m ($20m on each block).

The company has been increasingly expanding its exploration portfolio in the country in recent years. In 2015, it had acquired 30% of block CI-100 (later replaced by CI-803),and was eventually awarded CI-101 and CI-205 in March 2017 (operator, 90%).

In June 2019, Eni had also signed contracts for exploration blocks CI-501 and CI-504 (operator, 90%), located in the eastern part of Côte d'Ivoire’s sedimentary basin.

This article was supplied by our strategic partner

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