Preliminary explorations conducted by Eni, a prominent Italian oil and gas company, have unveiled encouraging indications of hydrocarbon reserves in offshore oil blocks CI-504, CI-526, CI-706, and CI-708 in the Ivory Coast.
The government has greenlit negotiations for production-sharing agreements with Eni in response to these findings.
Eni expressed its interest in acquiring the offshore blocks in February 2024.
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This latest development follows Eni’s successful initiation of oil and natural gas extraction from the deepwater Baleine field in the southeastern Ivory Coast in August 2023.
The Baleine field boasts significant reserves, estimated at 2.5 billion barrels of crude oil and 3,300 billion cubic feet of natural gas, establishing it as the largest hydrocarbon discovery by an oil company in Ivory Coast.
