Vitol completes acquisition of 30% stake in Côte d’Ivoire’s Baleine project

The offshore project began production in 2023, with output expected to increase after its third phase launches.

Vitol has completed its purchase of a 30% stake in Côte d’Ivoire’s Baleine project from Eni. Baleine is the country’s main offshore development.

Author: Робот Source: Vitol

Production facilities at the offshore Baleine oil and gas field off Côte d’Ivoire — The Baleine offshore oil and gas project off the coast of Côte d’Ivoire. Illustrative photo. Photo: ambquinn / Pixabay, Pixabay Content License

Vitol has completed the acquisition of a 30% stake in the Baleine project in Côte d’Ivoire from Eni. Eni now owns 47.25% of the project, Vitol 30% and Petroci 22.75%.

Baleine is Côte d’Ivoire’s main offshore development. Eni and Vitol are also partners in the OCTP and Block 4 projects in Ghana. The transaction further strengthens their collaboration in West Africa.

Vitol describes Baleine as Africa’s first net-zero development. The giant field was discovered in 2021, and production began in 2023, two decades after the country’s previous commercial discovery.

The first and second phases currently produce more than 62,000 barrels of oil and over 75 million cubic feet of gas per day. With the launch of Phase 3, output is expected to rise to 150,000 barrels of oil and 200 million cubic feet of gas per day.

Vitol is a global energy and commodities company with an upstream presence in West Africa for many years.

Source: Vitol

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Vitol completes acquisition of 30% stake in Côte d’Ivoire’s Baleine project

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