AfrOil: Eni secures exploration rights for four Ivory Coast offshore blocks

Italian energy major Eni has expanded its footprint in the Ivory Coast by acquiring exploration rights to four offshore blocks covering 5,720 square kilometres in water depths ranging from 1,000 to 3,500 metres.

The blocks – CI-504, CI-526, CI-706 and CI-708 – are near the Calao discovery in Block CI-205, a promising site revealed earlier in 2024 with an estimated 1.5bn barrels of oil equivalent.

Eni, which has operated in the West African country since 2015, producing 22,000 boe daily, has signed agreements with the Ministry of Mines, Oil, and Energy for exploration periods of up to nine years.

Ivory Coast's hydrocarbon potential has gained attention since the discovery of the Baleine field, the first commercial find in two decades. Baleine is a cornerstone of Eni’s regional portfolio, with its second development phase expected to produce 60,000 barrels of oil and 70mn cubic feet of associated gas daily, or 1.9mn cubic metres per day, by the end of 2024. A planned third phase could increase output to 150,000 barrels of oil and 200 mmcf (5.7 mcm) of gas daily.

Alongside its exploration ventures, Eni has committed to environmental initiatives,  signing a 20-year agreement with the Ivorian government to restore 155,000 hectares of forest in the Lagunes and Comoé regions. This project aims to offset emissions from Baleine through reforestation and sustainable agriculture.

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