Eni will make investments $10 billion within the growth of the Baleine area offshore Ivory Coast, which is able to happen in three phases from 2023 to 2027, Power Minister Mamadou Sangafowa Coulibaly stated on Thursday.
The Baleine area, the place licensed reserves are estimated at 2.5 billion barrels of oil and three.3 trillion cubic ft of pure gasoline, was found in 2021 by the Italian vitality group off the east coast of the West African nation.
The sector’s crude oil manufacturing ought to attain 200,000 barrels per day by 2027, in contrast with 30,000 barrels per day in 2023, the vitality minister stated.
“With a complete funding estimated at $10 billion, the Baleine undertaking could have a long-lasting impression on our economic system,” he added.
Eni started oil and gasoline manufacturing from the sphere in late August, two years after its discovery.
Thursday’s announcement got here as Ivory Coast President Alassane Ouattara and Eni CEO Claudio Descalzi met in Abidjan to mark manufacturing start-up from the Baleine area and assessment the corporate’s actions within the nation, based on an Eni assertion.
The sector can even allow Ivory Coast to supply 200 million cubic ft of pure gasoline per yr by 2027.
The vitality minister stated annual manufacturing of 150,000 metric tons of butane, equal to a 3rd of present family consumption, will make the nation much less depending on gasoline imports sooner or later.
Eni at present holds pursuits within the CI-101 and CI-802 blocks – the place the Baleine area extends – in addition to in 5 different deep-water Ivorian blocks, all with Petroci Holding as a companion.
(Reuters – Reporting by Ange Aboa; Writing by Anait Miridzhanian; Enhancing by Kirsten Donovan)
