ENI Announces $4B FID for Phase 3 at Baleine Field in Cote d’Ivoire

On 25 May 2026, ENI announced its Final Investment Decision (FID) into Phase 3 of the Baleine Oil & Gas Field in Cote d’Ivoire. The tranche for this phase amounts to USD 4 billion. A signing ceremony took place in Abidjan in the presence of the Ivorian Minister of Mines, Petrolem and Energy Mamadou Sangafowa-Coulibaly and ENI CEO Claudio Descalzi. Senior executives of partners Petroci and Vitol were also in attendance.

The Phase 3 of the project aims to boost oil production from 60,000 to 150,000 barrels per day (bpd) and gas output from 80 to 200 million cubic feet per day. The Project involves a new Floating Production and Storage and Offloading (FPSO) platform. Building upon the experience accumulated during the first two phases, ENI is confident to be able to accelerate the implementation of Phase 3, withoutc compromising on quality or safety.

“Baleine is a testament to ENI’s exploration and production model, built on excellence in exploration activities, the ability to develop projects through a fast-track and phased approach, and a consistent commitment to sustainability, in continuous dialogue with the host country. This project reflects our commitment to strengthening energy security, supporting local economic development and advancing a lower-carbon energy future.”

ENI CEO Claudio Descalzi

The FPSO vessel is currently under construction in China and involves several shipyards, including CIMC Raffles in Yantai and COSCO Shipping Heavy Industries in Qidong. The vessel is projected to be completed by mid-2028.

The gas produced will go first to meet domestic demand, contributing to reinforce Cote d’Ivoire #EnergySecurity. Part of the gas will be used as fuel to generate electricity to support the country’s #industrialization drive.