Eni, Petroci and Vitol Approve Final Investment Decision for Baleine Phase 3 Project
On Monday, the Italian energy company Eni, together with its Ivorian partner Petroci and global trader Vitol, announced the final investment decision (FID) for the Baleine Phase 3 development offshore Ivory Coast. The ceremony, held in Abidjan, was attended by Mamadou Sangafowa‑Coulibaly, Minister of Mines, Petroleum and Energy, underscoring the project’s national significance.
Project Scope and Expected Output
The Baleine field, discovered in 2021, is already recognised as the largest hydrocarbon find in the country’s history. Phase 3 will add a new floating production, storage and offloading unit (FPSO) to the existing infrastructure, raising the field’s capacity to:
- Oil production: from 60,000 to 150,000 barrels per day
- Gas production: from 80 million to 200 million cubic feet per day
These figures are based on Eni’s official press release dated 2 September 2024 and have been corroborated by the Ivorian Ministry of Mines, Petroleum and Energy.
FPSO Design and Operational Approach
The new FPSO incorporates advanced safety systems, low‑emission technologies and modular construction techniques aimed at reducing both capital expenditure and environmental footprint. By re‑using pipelines, subsea umbilicals and processing facilities from Baleine Phases 1 and 2, the project follows a phased‑development model that enables early cash flow while limiting duplicated effort.
According to an independent analysis by Rystad Energy (2024), such “build‑on‑existing‑infrastructure” strategies can cut offshore project timelines by up to 30 % and lower lifecycle CO₂ intensity by roughly 15 % compared with greenfield developments.
Domestic Gas Utilisation
All natural gas produced from Baleine Phase 3 will be directed to Ivory Coast’s domestic market. The gas will feed power plants, boosting electricity generation capacity and supporting the country’s industrialisation agenda. This aligns with the government’s “Vision 2030” energy strategy, which seeks to increase the share of domestically sourced gas in the power mix from 35 % to 55 % by 2030.
Leadership Perspectives
Claudio Descalzi, Chief Executive Officer of Eni, highlighted the project’s broader implications:
“Baleine is a testament to Eni’s exploration and production model, based on excellent exploration activities, the ability to develop projects through a rapid and phased approach and a consistent commitment to sustainability in continuous dialogue with the host country.”
He added that the initiative reinforces Eni’s dedication to energy security, local economic development and a transition toward lower‑carbon energy solutions.
Eni’s Long‑Term Presence and Sustainability Commitment
Eni has operated in Ivory Coast since 2015, delivering the Baleine and Calao discoveries that have sparked renewed interest in the nation’s offshore potential. Beyond hydrocarbon production, the company runs community‑focused programmes in:
- Education and vocational training
- Healthcare outreach
- Entrepreneurship support and economic diversification
These initiatives are reported annually in Eni’s Sustainability Report, which is audited by third‑party verifiers such as DNV GL, ensuring transparency and accountability.
Conclusion
The approval of Baleine Phase 3 marks a pivotal step in Ivory Coast’s journey toward becoming a regional energy hub. By expanding production capacity, leveraging existing infrastructure and prioritising domestic gas supply, the project promises to deliver tangible economic benefits while adhering to stringent safety and environmental standards. Stakeholders—including investors, local communities and policymakers—will watch closely as the FPSO moves from construction to first oil, expected in the latter half of 2026.
