Italian energy giant Eni has sold a 30% stake in Côte d’Ivoire’s Baleine offshore project to global commodity trader Vitol, the company confirmed on Thursday.
The deal reshapes the project’s ownership, with Eni retaining 47.25%, Vitol holding 30%, and state oil company Petroci controlling 22.75%. Baleine is the West African nation’s flagship offshore development.
First discovered in 2021, the field currently produces about 62,000 barrels of oil and more than 75 million cubic feet of gas per day from its initial two phases. Production is set to surge with Phase 3, expected to deliver 150,000 barrels of oil and 200 million cubic feet of gas daily.
Eni said the sale reflects its strategy to optimize its upstream portfolio by monetizing discoveries more quickly through what it calls a “dual exploration model.”
Source: Reuters
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