Côte d’Ivoire has awarded Eni SpA 4 offshore exploration blocks, permitting the Italian government-controlled vitality main to develop a footprint that already consists of the 2 greatest hydrocarbon discoveries within the Western African nation.
“The blocks CI-504, CI-526, CI-706 and CI-708 cowl a complete space of about 5,720 sq. kilometers with a water depth ranging between 1,000 and three,500 meters; their proximity to the Calao discovery, made in Block CI-205, represents a strategic alternative to create additional synergies within the space”, Eni mentioned in an internet assertion Thursday.
The brand new licenses, signed with the Ministry of Mines, Oil and Power in Abidjan, permit exploration of as much as 9 years, Eni mentioned.
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Presently Eni has a manufacturing share of about 22,000 barrels of oil equal a day within the Ivory Coast, the place it entered 2015, in response to the corporate.
Eni added that the second part of the Baleine area, which it declared September 1, 2021, because the Ivory Coast’s first industrial hydrocarbon discovery since 2001, is on monitor to start out manufacturing by the top of 2024. The second part will elevate the sector’s manufacturing to 60,000 barrels of oil per day (bopd) and 70 million cubic toes per day (MMcfpd) of related fuel. Section 3, beneath research, is predicted to additional develop Baleine’s output to 150,000 bopd and 200 MMcfpd of related fuel.
Eni positioned Baleine’s preliminary estimates at 1.5 to 2 billion barrels of oil in place and 1.8 trillion cubic toes (Tcf) to 2.4 Tcf of related fuel.
On March 7, 2024, Eni introduced the Calao area discovery. With potential assets of 1 to 1.5 billion barrels of oil equal, it’s the second-biggest hydrocarbon discovery within the nation after Baleine, Eni mentioned.
Eni operates six blocks within the Ivorian deepwater, with the Ivory Coast’s state-owned Petroci Holding as associate. Block CI-101 holds Baleine, whereas Calao is a part of block CI-205. The opposite 4 blocks are CI-401, CI-501, CI-801 and CI-802.
Additionally on Thursday Eni introduced a 20-year forestation settlement with the Ivory Coast’s Water and Forests Ministry, which can assist offset emissions from Baleine.
“The initiative, which follows the feasibility research launched in September 2022 with the participation of native stakeholders, will cowl 14 forests, recognized in shut cooperation with the competent authorities, over an space of 155,000 hectares, within the Lagunes and Comoé areas, positioned respectively within the south and south-east of the nation”, Eni mentioned in a separate press launch.
The initiative “goals to preserve the remaining current forest heritage and biodiversity by strengthening the management measures already in place to stop the danger of deforestation, fires and poaching, and it’s primarily based on an intensive awareness-raising and coaching program involving native communities and related establishments”, Eni mentioned.
It additionally “foresees the restoration of some 130,000 hectares of forest space by way of the planting of some 12 million timber of native species in deserted and degraded areas, accompanied by agro-forestry initiatives to advertise extra sustainable farming practices and enhance the productiveness of cultivated land for the advantage of native farming communities”, Eni added.
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