Italian energy major Eni has secured reconnaissance permits for 15 offshore blocks off the coast of Guinea in West Africa, ending a prolonged exploration hiatus in Guinean waters and signalling a fresh wave of industry interest in the highly prospective MSGBC basin spanning Mauritania, Senegal, Gambia, Guinea-Bissau and Guinea-Conakry.
The deal was signed with Guinea’s Ministry of Water and Hydrocarbons in Conakry and is valid for one year with the option to extend to two. It covers offshore blocks A4, A5, B4, B5, C3, C4, C5, D2, D3, D4, E2, E3, E4, F2 and F3, encompassing a total area of approximately 49,089 square kilometres. Eni was represented at the signing by exploration director Aldo Napolitano.
The MSGBC basin has been transformed into one of West Africa’s most exciting exploration frontiers by a series of major hydrocarbon discoveries in recent years, most notably the Greater Tortue Ahmeyim gas field straddling the Senegal-Mauritania maritime border and Woodside’s Sangomar oil project off Senegal. Those successes have drawn renewed attention to the broader basin and raised expectations for what the Guinean offshore may hold. TotalEnergies previously signed a technical agreement with Guinea but later relinquished it — clearing the way for Eni’s entry.
Guinea itself does not have a domestic refinery and relies entirely on imported refined petroleum products, importing approximately 71,000 barrels per day of fuel in May, predominantly gasoline, gasoil and jet fuel. A significant upstream discovery off its coast could fundamentally alter that picture over the long term.
The Guinea deal extends Eni’s West African exploration push, following similar reconnaissance agreements signed with Sierra Leone in November and Equatorial Guinea in February. Across the region, Eni has an extensive operating footprint stretching from the Republic of Congo to Côte d’Ivoire, where its Baleine oil and gas project delivered first oil just two years after discovery and transformed the country into an energy exporter. Chevron, ExxonMobil and TotalEnergies have similarly been active in frontier basin deals across the region, pointing to a sustained exploration renaissance in West Africa.
Source: megaproject.com