Eni, Ivory Coast in talks for offshore exploration deal, sources say
(Bloomberg) – Ivory Coast and Eni SpA signed a contract for the acquisition of a new offshore oil-exploration block, according to minutes from a cabinet meeting. The deal for the CI-707 block has a duration of three years in the first phase and includes a minimum $20 million investment.
Eni didn’t respond to an emailed request for comment.
The Italian major has made significant offshore hydrocarbon discoveries at the Baleine and Calao fields off the West African nation’s coast. The company in December started a second phase at Baleine aimed at increasing output to 60,000 bpd. A third phase will more than double production to 150,000 bpd.
See also: Eni starts Phase 2 production from Baleine field, offshore Ivory Coast
See also: Ivory Coast sets ambitious targets to boost oil production by 2035
