Altera, Eni advance Baleine Phase 3 with new FPSO agreement

(WO) — Altera Infrastructure has signed the principal agreements to supply a new floating production, storage and offloading (FPSO) vessel for Eni's Baleine Phase 3 development offshore Côte d'Ivoire, marking a key milestone in the expansion of one of West Africa's largest offshore oil and gas projects.

The agreements cover the engineering, procurement, construction, installation and commissioning (EPCIC) of the new FPSO, along with a fixed 15-year bareboat charter that will support long-term production from the Baleine field.

The FPSO will be constructed by Wison New Energies in China and is designed to produce 90,000 bopd, process 160 MMcfd of natural gas and store up to 1.4 million bbl of crude oil.

When combined with the existing Baleine Phase 1 and Phase 2 developments, total field production is expected to reach approximately 150,000 bopd and 200 MMcfd of natural gas. Eni has said all gas produced from the project will be supplied to Côte d'Ivoire's domestic market to support power generation and industrial growth.

The project builds on Altera's role in Baleine Phase 2, where the company redeployed and now operates the FPSO Petrojarl Kong and FSO Yamoussoukro.

Upon completion, Altera will own and operate the new FPSO under the 15-year charter. The company also announced it has secured long-term financing for the project from international institutional investors, covering construction through the charter period.

"Baleine Phase 3 is an important milestone for Altera and demonstrates our ability to combine compelling commercial solutions, world-class offshore operations and access to international capital to support major energy developments offshore Africa," said Chris Brett, president of Altera Production.