Under a new agreement, Vitol will acquire interests in a number of assets owned by Eni in Côte d’Ivoire and Congo for an aggregate consideration of $1.65 billion at 1 January 2024, with standard cash adjustment at closing.

The acquisition will involve interest in both oil and gas producing assets and blocks undergoing exploration, appraisal and development.

 These include the Baleine project in Cote d’Ivoire, where Eni has a 77.25% ownership interest and Vitol will acquire a 30% participating interest, and Congo LNG project in the Republic of Congo, where Eni has a 65% participating interest and Vitol will acquire a 25% participating interest. Eni and Vitol are already partners in the OCTP and Block 4 projects in Ghana, and this agreement further consolidates cooperation between the two companies in West Africa.