Ivory Coast : Eni to invest $10 billion in the Baleine field

Eni will invest $10 billion in the development of the Baleine field offore Ivory CoastThe project will be carried out in three phases from 2023 to 2027, announced Energy Minister Mamadou Sangafowa Coulibaly.

The Baleine field, with certified reserves estimated at 2.5 billion barrels of oil and 3.3 trillion cubic feet of natural gaswas discovered in 2021 by the Italian energy group off the east coast of this West African country.

Crude oil production from the field is expected to reach 200,000 barrels per day by 2027, compared with 30,000 barrels per day in 2023, said the Energy Minister.

"With an estimated total investment of $10 billion, the Whale project will have a lasting impact on our economy," he added.

Eni began producing oil and gas from the field at the end of August, two years after its discovery.

The announcement comes as Ivorian President Alassane Ouattara and Eni CEO Claudio Descalzi met in Abidjan to mark the start of production from the Baleine field and review the company's activities in the country, according to an Eni press release.

The field will also enable Côte d'Ivoire to produce 200 million cubic feet of natural gas per year by 2027.

The Energy Minister stated that the annual production of 150,000 tonnes of butaneequivalent to a third of current household consumption, would make the country less dependent on gas imports in the future.

Eni currently holds interests in blocks CI-101 and CI-802 - where the Baleine field extends - as well as in five other deep-water Ivorian blocks, all with Petroci Holding as a partner.