The Italian energy company Eni S. p. A. has completed the sale of a 30% stake in the largest offshore hydrocarbon project Baleine in Côte d'Ivoire to the Swiss company Vitol Group. This is reported in a press release from Eni.
After the closing of the transaction, shares in the Baleine project belong to Eni (47.25%), Vitol (30%) and Petroci (22.75%). The Baleine project is a strategically important project for Côte d'Ivoire in terms of ensuring the country's access to energy resources and meeting domestic energy demand.
The deal is in line with Eni's strategy to optimize its portfolio of mining projects through the sale of shares in assets and strengthens cooperation with Vitol in West Africa, where both companies are partners in the implementation of OCTP and Block 4 projects in Ghana.
Eni has been present in Côte d'Ivoire since 2015, where it has discovered two major deposits, Baleine and Calao. In particular, the Baleine field was discovered in 2021 and launched in record time in 2023. The production volume is more than 62 thousand barrels of oil and 75 million cubic feet of gas per day and can be increased to 150 thousand barrels of oil and 200 million cubic feet of gas after the launch of the third phase of the project. The stable level of gas production is estimated at 12 years.
Eni S. p. A. is a multinational energy company and the largest oil and gas company in Italy. The main production regions are Africa and Kazakhstan, and the main sales market is Italy and other European countries. The headquarters is located in San Donato Milanese (Italy).
Vitol Group is a Swiss—Dutch energy and raw materials company in the field of oil and petroleum products trading. The company has been mining in West Africa for many years. The headquarters are located in Geneva (Switzerland) and Rotterdam (the Netherlands).
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