West Africa’s energy sector boosted as Eni secures key offshore blocks in Côte d’Ivoire

Italian energy giant Eni has expanded its influence in Côte d’Ivoire’s offshore energy sector by signing agreements for four new exploration blocks with the Ministry of Mines, Oil, and Energy. The deals, formalised during the inaugural International Exhibition of Extractive and Energy Resources (SIREXE) in Abidjan, highlight Eni’s ambitions to solidify its presence in West Africa’s lucrative energy market.

Strategic New Exploration Areas

The new exploration blocks—CI-504, CI-526, CI-706, and CI-708—span approximately 5,720 square kilometres and are located at depths ranging from 1,000 to 3,500 metres. Strategically positioned near Block CI-205, which contains the significant Calao discovery, these new blocks present opportunities for operational synergies. The proximity to existing assets could enable Eni to streamline its exploration and development activities effectively. Under the agreements, Eni has secured the rights to explore these areas for up to nine years.

Eni’s Growing Presence in Côte d’Ivoire

Eni first entered Côte d’Ivoire in 2015 and has since significantly expanded its operations, currently producing around 22,000 barrels of oil equivalent per day. The company now manages six offshore blocks in collaboration with Petroci Holding, Côte d’Ivoire’s state-owned oil company. These blocks include CI-101, CI-205, CI-401, CI-501, CI-801, and CI-802. Eni’s continued efforts have already resulted in major discoveries, including the Baleine and Calao fields, which are considered the largest oil finds in the country to date.

Future Development and Expansion Plans

As part of its ongoing commitment to growth, Eni is advancing development plans to increase production from its existing discoveries. Production at the Baleine field began in 2023 with Phase 1, and Phase 2 is expected to commence by December 2024. This next phase is projected to boost output to 60,000 barrels of oil per day, along with 70 million cubic feet—approximately 2 million cubic metres—of associated gas. A third development phase is under evaluation, with a target of scaling up production to 150,000 barrels of oil per day and 200 million cubic feet of gas.

Expert Analysis on Eni’s Impact

Energy experts view Eni’s latest agreements as a critical step in securing Côte d’Ivoire’s position as a burgeoning energy hub in West Africa. Eni’s strategic investments and its ambitious development phases underscore the company’s role in transforming the region’s oil and gas landscape. According to industry analysts, these initiatives are likely to attract further foreign investment and enhance the nation’s production capacity in the coming years.

Strengthening Côte d’Ivoire’s Energy Industry

The recent agreements and ongoing projects bolster Eni’s strategic influence within Côte d’Ivoire’s expanding oil and gas industry. Through continuous investment and exploration, Eni is not only scaling up its offshore output but also contributing significantly to the regional energy landscape, reinforcing Côte d’Ivoire’s position as an emerging leader in West Africa’s oil and gas sector.