Eni has signed a binding agreement with SOCAR, the state oil company of the Republic of Azerbaijan, to sell a 10% stake in the Baleine project, offshore Ivory Coast.
Baleine is Eni’s first development in the country, and the first net-zero emission development in Africa. The field was discovered in 2021 and currently produces over 62,000 b/d of oil and more than 75 MMcfd of gas from Phases 1 and 2. With the launch of Phase 3, production is expected to rise to 150,000 b/d of oil and 200 MMcfd of gas.
The deal is subject to regulatory approvals and other customary terms and conditions.
Eni is operator over Blocks CI-101 and CI-802 which contain Baleine field (47.25%). Partners include Vitol (30%) and Petroci (22.75%).
About the Author
Alex Procyk
Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).