Italy’s energy giant Eni has secured a new exploration license for block CI-707 offshore Abidjan, Côte d’Ivoire, bringing its total portfolio in the country to 11 blocks and strengthening its position as the sole deepwater production operator in the West African nation.
The contract, signed with the Ivorian Ministry of Mines, Petroleum, and Energy, covers approximately 2,926 square kilometers in the Ivorian sedimentary basin at water depths ranging between 1,000 and 3,000 meters. The planned exploration period has a maximum duration of nine years.
The strategic value of CI-707 lies in its geological continuity with the nearby CI-205 block, where Eni made the Calao discovery in March 2024. At the time, Calao was described as a major discovery in Côte d’Ivoire, second only to the Baleine discovery made in September 2021. This proximity is thought to offer significant opportunities for identifying similar structures and developing synergistic projects.
The acquisition allows Eni to further consolidate its presence in Côte d’Ivoire, where it has been operating since 2017. The company’s current equity production exceeds 62,000 barrels of oil and 75 million cubic feet of gas per day, with projections to rise to 150,000 barrels of oil and 200 million cubic feet of gas per day with the start of phase three operations.
In addition to the newly acquired CI-707, Eni holds interests in ten other offshore blocks in the country: 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 that transaction last week, the ownership structure of what is considered the country’s main offshore development now comprises Eni’s 47.25% interest as operator, Vitol’s 30%, and Petroci’s 22.75%.
Sources: offshore-energy.biz, energy-pedia.com