• Eni secures offshore Block CI-707 in Côte d’Ivoire
• Block spans 2,926 km²; nine-year exploration period begins
• Aims to expand Baleine output, FID expected by year-end 

Italian energy major Eni has secured exploration rights for a new offshore block, CI-707, off Côte d’Ivoire, strengthening its presence in the country’s upstream sector.

The agreement, signed with the Ivorian Ministry of Mines, Petroleum and Energy, grants Eni access to the 2,926 square kilometer block in the Ivorian sedimentary basin. The site lies in water depths ranging from 1,000 to 3,000 meters and is subject to a nine-year prospecting period, the company announced on Wednesday, October 1.

The acquisition brings the number of offshore exploration blocks operated by Eni in Côte d’Ivoire to eleven, including CI-101, CI-205, CI-401, CI-501, and CI-802.

This development follows the 2021 Baleine field discovery in blocks CI-101 and CI-802, which currently produces over 62,000 barrels of crude oil and 75 million standard cubic feet of gas per day.

The new block is part of Eni’s strategy to establish Côte d’Ivoire as a crucial pillar for its growth in West Africa. The Italian firm aims to boost production to 150,000 barrels of crude per day and 200 million standard cubic feet of gas per day. Eni has already divested a 30% stake in the project to the Swiss trader Vitol, and a final investment decision (FID) is anticipated by the end of the year.

Abdel-Latif Boureima