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Eni, Partners Approve Baleine Phase 3 in Ivory Coast, Target 150,000 Barrels per Day Oil Output

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Italian energy giant Eni (E) and partners Petroci and Vitol approved the final investment decision for the Baleine Phase 3 project in offshore Cote d'Ivoire, paving the way for a major increase in oil and gas production from the country's largest-ever hydrocarbon discovery.

The Phase 3 development is expected to raise oil production at the Baleine field to 150,000 barrels per day from 60,000 bpd, while natural gas output is set to climb to 200 million cubic feet per day from 80 MMcf/d, according to the company's statement on Monday.

The project was approved during a ceremony held in Abidjan, with the country's Minister of Mines, Petroleum and Energy, Mamadou Sangafowa-Coulibaly.

It involves the development of a new floating, production, storage and offloading unit, aimed at improving operational efficiency while lowering environmental impact.

Eni said the project will continue using its phased, fast-track development approach already deployed in Baleine's earlier phases, allowing production growth while leveraging existing infrastructure and controlling costs.

The company also noted that all of the project's output will be allocated to the domestic market, supporting the Ivory Coast's energy needs, expanding electricity generation, while adding to the country's industrial development.

Claudio Descalzi, the CEO of ENI, said that the project reflects the company's commitment to "strengthening energy security, supporting local economic development and advancing a lower-carbon energy future."

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