Italy’s energy giant Eni has signed a contract with the Ivorian Ministry of Mines, Petroleum, and Energy for an exploration block offshore Abidjan , Côte d’Ivoire.
The license for block CI-707 covers an area of approximately 2,926 square kilometers in the Ivorian sedimentary basin, at a water depth of between 1,000 and 3,000 meters. The planned exploration period has a maximum duration of 9 years.
As disclosed by Eni, the area covered by the new license is geologically continuous with the nearby CI-205 block, where Eni made the Calao discovery in March 2024. At the time, the discovery was described as a “major” one in Côte d’Ivoire, second only to the Baleine discovery, made in September 2021.
This proximity is thought to offer a strategic opportunity to identify potential similar structures, paving the way for future developments.
The acquisition will allow Eni to further consolidate its presence in Côte d’Ivoire, where it has been operating since 2017. The company says its current equity production exceeds 62,000 barrels of oil and 75 million cubic feet of gas per day.
In addition to the latest license acquisition, the company has interests in ten offshore blocks in the country. These are CI-101, CI-205, CI-401, CI-501, CI-504, CI-526, CI-706, CI-708, CI-801, and CI-802.
The Italian giant recently divested its partial stake in the Baleine development. With the completion of the transaction last week, the ownership structure of what is said to be the country’s main offshore development comprises Eni’s 47.25% interest as the operator, Vitol’s 30%, and Petroci’s 22.75%.