Eni, the Italian energy company, is set to invest $10 billion in the development of the Baleine field offshore Côte d’Ivoire (Ivory Coast), according to Energy Minister Mamadou Sangafowa. The investment will be carried out in three phases between 2023 and 2027. Discovered by Eni in 2021, the Baleine field, located off the east coast of Ivory Coast, is estimated to hold certified reserves of 2.5 billion barrels of oil and 3.3 trillion cubic feet of natural gas.

The development is expected to significantly impact the Ivorian economy, with the field projected to produce 200,000 barrels of crude oil per day (bopd) by 2027, up from 30,000 bopd in 2023. Eni commenced production in August of this year, and the project is undertaken in collaboration with Ivory Coast Government-owned company Petroci. Notably, the Baleine project is considered the first emissions-free (scope 1 and 2) project in Africa.

During a meeting in Abidjan, Ivory Coast President Alassane Ouattara and Eni CEO Claudio Descalzi celebrated the start of production from the Baleine field and assessed Eni’s operations in the nation. By 2027, the field is expected to contribute to Ivory Coast's annual natural gas production of 200 million cubic feet, thereby reducing the country's dependence on gas imports.

Eni has been operating in Ivory Coast since 2015 and holds stakes in several Ivorian deepwater blocks, including CI-101 and CI-802 (Baleine field), CI-205, CI-504, CI-401, and CI-801, with Petroci as a partner. This investment reflects Eni's commitment to developing significant energy resources in the region.