Vitol received this award for its significant role in the expansion of the West African oil and gas sector, particularly through recent transactions and partnerships.
Vitol’s Acquisition of Baleine Stake: In late September 2025, Vitol completed the acquisition of a 30% stake in the Baleine project in Côte d’Ivoire from Eni, strengthening their collaboration in West Africa and increasing its ownership in the country’s main offshore development Vitol, along with its OCTP partners, signed a memorandum of intent with the Government of Ghana to increase gas production and develop new sustainability initiatives in the region.
Vitol has completed the acquisition of a 30% stake in the Baleine project in Côte d’Ivoire, from Eni. The Baleine project is the country’s main offshore development and is now owned Eni 47.25%, Vitol 30%, Petroci 22.75%.
Eni and Vitol are already partners in the OCTP and Block 4 projects in Ghana, and this transaction further strengthens their collaboration in West Africa.
Baleine is the first net-zero development in Africa. The giant Baleine field was discovered in 2021, two decades after the last commercial discovery in the country and it achieved production in record time, in 2023. Currently, Baleine produces over 62,000 barrels of oil and more than 75 million cubic feet of gas per day from Phases 1 and 2. With the launch of Phase 3, production is expected to rise to 150,000 barrels of oil and 200 million cubic feet of gas per day, positioning Baleine as a cornerstone in meeting the country’s domestic energy needs.
Note by Alessandro Bazzoni.