Eni Sells 30% Stake in Côte d’Ivoire's Baleine Project to Vitol
- Eni sold a 30% stake in the Baleine project to Vitol, with Eni retaining 47.25% and Petroci holding 22.75%.
- Baleine, discovered in 2021, achieved production in 2023, producing over 62,000 barrels of oil and 75 million cubic feet of gas daily.
- Phase 3 aims to increase production to 150,000 barrels of oil and 200 million cubic feet of gas per day.
- Eni and Vitol are partners in other West African projects, including OCTP and Block 4 in Ghana.
Transaction Details
Eni has completed the sale of a 30% stake in the Baleine project in Côte d’Ivoire to Vitol. The ownership structure now consists of Eni with 47.25%, Vitol with 30%, and Petroci holding 22.75%.
Baleine Project Overview
The Baleine project is Côte d’Ivoire's main offshore development. Discovered in 2021, it achieved production in 2023, producing over 62,000 barrels of oil and more than 75 million cubic feet of gas per day from Phases 1 and 2.
Future Production Goals
With the launch of Phase 3, production is expected to increase to 150,000 barrels of oil and 200 million cubic feet of gas per day. This expansion positions Baleine as a key contributor to the country's domestic energy needs.
Partnership and Regional Presence
Eni and Vitol are already partners in the OCTP and Block 4 projects in Ghana, and this transaction further strengthens their collaboration in West Africa. Eni has been active in Côte d’Ivoire since 2015, with Baleine being its first development in the country and the first net-zero development in Africa.
Source: Eni