• Eni sold 30% of its Baleine project stake to Swiss energy trader Vitol

• Eni keeps 47.25% and Petroci retains 22.75%, with Eni staying operator

• Baleine field, producing since Dec. 2024, could reach 150,000 bpd at full phase

In Côte d’Ivoire, Italian oil and gas group Eni has finalized the sale of a 30% stake in the producing Baleine oil project to Swiss energy trader Vitol, marking Vitol’s official entry into the country’s offshore sector. The transaction was completed on September 25.

Following the deal, Eni, which operates the project, holds 47.25%, while state-owned Petroci retains 22.75%. Eni maintains majority control while sharing financial and operational risks with its partners. For Vitol, the move strengthens its footprint in West Africa, where it already cooperates with Eni on the OCTP and Block 4 fields in Ghana.

For Eni, the divestment supports its portfolio strategy in Côte d’Ivoire, aimed at accelerating the monetization of exploration discoveries and freeing up funds for new upstream developments. Last year, Eni acquired four new offshore blocks (CI-504, CI-526, CI-706, CI-708), covering 5,720 km², bringing its total Ivorian offshore assets to 10.

The Baleine field, which began production in December 2024, has a current capacity of 60,000 barrels of oil per day and 70 million cubic feet of gas per day. According to the Ministry of Mines, Petroleum and Energy, the gas output is allocated to the domestic market to support power generation.

GlobalData estimates the field will remain economically viable until 2059. Baleine currently represents about 8% of Côte d’Ivoire’s daily oil production and is central to the country’s energy policy.

At the end of Phase 3 development, output is expected to reach 150,000 barrels of oil per day and 200 million cubic feet of gas per day. Technical studies for this stage are underway, with a final investment decision (FID) expected by the end of 2025.