Eni final investment decision (FID) for Baleine Phase 3 marks a massive $4 billion expansion that will triple Côte d’Ivoire’s oil production capacity and position the nation as a premier West African energy hub. Italian energy giant Eni formally approved the plan alongside partners PETROCI and Vitol. This milestone secures the full-field development of the country’s largest-ever hydrocarbon discovery.Ramping from 60,000 up to 150,000 barrels per day (bpd) Skyrocketing from 80 million to 200 million cubic feet per day (mmscfd).All produced gas is reserved for Côte d’Ivoire’s local market to support power generation and industrial growth.Features a brand-new Floating Production, Storage, and Offloading (FPSO) unit engineered for reduced environmental impact.Brings the total collective investment in the Baleine field to $8 billion.Consortium Equity StructureThe asset’s current partnership breakdown highlights diverse international backing:
Eni: 37.25% (Operator)Vitol: 30%PETROCI: 22.75%SOCAR: 10% (Azerbaijan state-owned firm)
Note by Alessandro Bazzoni