Eni Acquires Stakes in Two Offshore Blocks in Cote d’Ivoire

Eni bought majority stakes in two new exploration blocks offshore Cote d’Ivoire, the offshore blocks, CI-101 and CI-205, located approximately 50km from the coastline of the Ivory Coast, east of the Tano basin, Petroleum Africa reported.
According to Offshore Technology, Block CI-101 is at a water depth ranging between 200 and 2,500 meters, while block CI-205 is at a water depth ranging between 2,000 and 2,700 meters.
ENI will hold a 90% interest in both blocks and will be responsible for the operation process, while the state-owned company Petroci holds the remaining 10% in both blocks. This acquisition is in line with Eni’s dual Exploration strategy, which aims to acquire wide majority stakes in exploration blocks with a high hydrocarbon potential.

In 2015, Eni Côte d’Ivoire Limited purchased a 30% stake in the offshore exploration block CI-100.

In relevant news, Eni had signed an agreement with ExxonMobil to sell 25% of its stake in an offshore gas block in Mozambique for $2.8b.


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