Eni Sells 30% Stake In Côte D'ivoire's Baleine Project To Vitol

2025-09-25 02:05:24

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 25. Eni has completed the sale of a 30% stake in the Baleine offshore project in Côte d'Ivoire to Vitol, Trend reports.

Following the transaction, ownership is divided between Eni (47.25%), Vitol (30%), and Petroci (22.75%).

The deal supports Eni's strategy of optimizing its upstream portfolio through its“dual exploration model,” which accelerates the monetization of discoveries by divesting equity stakes. Eni and Vitol already partner in Ghana's OCTP and Block 4 projects, and the new agreement deepens their collaboration in West Africa.

Discovered in 2021, Baleine is Eni's first development in Côte d'Ivoire and Africa's first net-zero project.

It reached production in 2023 and currently delivers over 62,000 barrels of oil and 75 million cubic feet of gas per day. With Phase 3, output is set to rise to 150,000 barrels of oil and 200 million cubic feet of gas daily, making Baleine central to the country's energy supply.

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