ENI Awarded Two Exploration Blocks Offshore Ivory Coast

Source Press Release
Company ENI 
Tags Licensing Rounds, Deals, Upstream Activities
Date June 04, 2019

Eni has signed the contracts for two new exploration blocks in the eastern part of the sedimentary basin offshore Ivory Coast. The blocks were part of the 20 blocks available at the end of 2018.

The two blocks, CI-501 and CI-504, are located at about 30 km from the coastline and cover a total area of about 911 square kilometers. Block CI-501 (512 sqkm) is located 80 km south-west of the capital Abidjan at between 100 and 2,400 m of water depth, while block CI-504 (399 sqkm) is about 60 km south-west of the capital and at between 1,000 and 2,350 m of water depth.

Eni is operator in both blocks with a 90% stake, while the state company  Petroci holds the remaining 10%. The two blocks are adjacent to the north of Block CI-205, already operated by  Eni (Eni 90%,  Petroci 10%). Due to their geological continuity, the blocks will be studied in synergy, utilizing  Eni’s proprietary technologies, with cost optimization and facilitating time-to-market in the event of a petroleum discovery and commercial development.

Eni has returned to Ivory Coast in 2015, by acquiring 30% of the exploration block CI-100. The company currently detains 5 deep water blocks, 4 of which are operated through its subsidiary  Eni Côte d’Ivoire Limited.  Eni had been active in Ivory Coast’s upstream and downstream sectors in the 60s and 80s.

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