Preliminary exploration conducted by Italian oil and gas major Eni has revealed promising signs of hydrocarbons in offshore oil blocks CI-504, CI-526, CI-706, and CI-708 in Ivory Coast.
The government has therefore agreed to proceed with negotiations for production sharing contracts with the firm.
An expression of interest was made by Eni in February 2024 for the offshore blocks.
This development follows Eni’s commencement of oil and natural gas production from the deepwater Baleine field in southeast Ivory Coast in August 2023.
The Baleine field boasts substantial reserves estimated at 2.5 billion barrels of crude oil and 3,300 billion cubic feet of natural gas, positioning it as the largest hydrocarbon discovery by an oil company in Ivory Coast.
Source: https://energynewsafrica.com