Italian oil major Eni has signed an exploration contract with the Ivorian Ministry of Mines, Petroleum, and Energy for the CI-707 offshore block in the Ivory Coast. The agreement provides Eni with access to a license area covering approximately 2,926 square kilometers in the Ivorian sedimentary basin, with water depths ranging from 1,000 to 3,000 meters. The exploration contract allows for a maximum exploration period of nine years.
Geologically, the CI-707 block is continuous with the adjacent CI-205 block, where Eni announced the Calao discovery in March 2024. This proximity increases prospects for identifying analogous structures and enables potential integrated developments in the future. Eni currently operates ten other offshore licenses in the Ivory Coast in addition to the newly acquired CI-707 block.
The new license further strengthens Eni’s presence in the Ivory Coast’s offshore sector. Since establishing operations in the country in 2017, the company has maintained interests and operated multiple blocks, currently producing over 62,000 barrels of oil per day and more than 75 million cubic feet of gas per day in equity terms.
Source: Energy Capital & Power