Eni S.p.A. is an Italian multinational oil and gas company headquartered in Rome with operations in 66 countries with a market capitalization of US$36.08 billion, as of 31 December 2020. (companieshistory.com)

By  Gary Raynaldo    DIPLOMTACTIC  TIMES

Italian multinational energy company ENI announced this week a major oil find on the Baleine prospect in block CI-101 offshore west African nation Ivory Coast.   The potential of the discovery is preliminarily estimated at between 1.5 and 2.0 billion barrels of oil in place and between 1.8 and 2.4 trillion cubic feet (TCF) of associated gas, according to a statement from ENI.   The block is operated by Eni with Petroci Holding, who hold 90% and 10% respectively in the exploration phase.  The well was drilled about 60 kilometers off the coast, in about 1,200 meters of water depth with the Saipem 10,000 drill ship and reached a total depth of 3,445 meters in 30 days.  Baleine-1x is the first exploration well drilled by Eni in the Ivory Coast. Besides block CI-101, Eni owns a participating interest in other four blocks in the Ivorian deep water: CI-205, CI-501, CI-504 and CI-802, all with the same partner Petroci Holding.

Baleine-1x is the first exploration well drilled by Eni in Ivory Coast. It is also the country’s first deepwater commercial discovery in more than 20 years, according to ENI. 

$185 million (€136 million) Investement Contracts by Eni, France Total with IVORY COAST   

In 2019, Ivory Coast signed contracts for exploration with Eni and France’s Total.  In  2019 Eni and Total together  placed $185 million (€136 million) into the initial investment in exploration.

«Une découverte majeure de pétrole dans le bassin sédimentaire de la Côte d’Ivoire vient d’être faite par la société italienne Eni dans le bloc CI-101, en eaux profondes, opéré en consortium avec la société nationale Petroci Holding», indique dans un communiqué le ministre ivoirien des Mines et du Pétrole, Thomas Camara. «Les réserves découvertes concernent du pétrole brut et du gaz naturel associé».

IVORY COAST Block C1-101 Offshore Operated by ENI (90 Percent)  Petroci Holding (10 Percent) Holding in Exploration  – Good Deal For  ENI with 90 PERCENT  Of Holding 

Créée en 1975, PETROCI Holding avec un capital de 20.000.000.000. FCFA, ambitionne de faire de la Côte d’ivoire, la plaque tournante du commerce des produits pétroliers pour tous les pays de la sous-région, voire de toute l’afrique.

“The Baleine-1x well was located on the basis of a comprehensive analysis of a wide range of 3D seismic data and regional studies in the sedimentary basin in Ivory Coast; the implementation of state-of-the-art technology including intelligent wireline formation testing and fluid sampling proved the presence of light oil bearing intervals of Santonian and Cenomanian / Albian age. The lower Cenomanian / Albian level shows discrete to good reservoir characteristics and has been successfully tested to production. Along with the appraisal programme, Eni and Petroci Holding will also start studies for a fast-track development of the Baleine discovery.”

-ENI 

ENI Exploration of Two New Blocks in  IVORY COAST in  2019

In June 2019,  ENI signed contracts for the two new exploration blocks CI-501 and CI-504 located in the eastern part of the sedimentary basin off the coast of Ivory Coast. The CI-501 block lies between 100 and 2,400 metres underwater, about 80 km south-west of the capital Abidjan. The CI-504 block (399 square kilometres) is between 1,000 and 2,350 metres, about 60 km south-west of the capital.   In March 2017,  ENI Eni obtained majority stakes in two new exploration blocks off the shore of the Ivory Coast.

Oil production in IVORY COAST approximately 36,000 barrels per day

Total oil production in the west African nation about 36,000 bbl/day as of 2019.  Ivory Coast has 51 identified fields, of which four are producing, 26 are in exploration and 21 are still under negotiation