Eni (E) and partners Petroci and Vitol approved the final investment decision for Cote d'Ivoire's Baleine Phase 3 project, advancing development of the country's largest hydrocarbon discovery, Eni said Monday.
The phase 3 development is expected to raise oil production to 150,000 barrels per day from 60,000 barrels and increase gas output to 200 million cubic feet per day from 80 million cubic feet per day, the company added.
Eni shares were down 0.6% in premarket activity Tuesday.
Sound Energy (SOU.L) entered a binding deal to sell its entire share capital in the Sound Energy Merijda unit to Morocco-based Managem.The deal will mark the transition energy company's exit from the Tendrara exploitation concession by disposing of its 20% interest in the onshore project in Morocco, according to a Tuesday filing.The company will also relinquish its 27.5% interest in the Anoual exploration permit and waive any remaining rights in the Grand Tendrara exploration permit.The proceeds will be used to repurchase outstanding 28.8 million-euro 5% senior secured notes before their December 2027 maturity.
Helix Exploration (HEX.L) commenced re-entry operations at the Inez #1 well at the Rudyard helium project in Montana, US.The helium exploration and development company intends to commence gas production from the Souris River interval through the re-entry, according to a Tuesday filing.
Arrow Exploration (AXL.L) said Tuesday it put the Icaco 1 exploration well on the Tapir Block in Colombia's Llanos Basin on production on May 15.The oil and gas company noted the well has a restricted rate of 628 barrels of oil per day gross, and testing results showed that the well is capable of higher rates, with well and pump optimization.