- ENI, the Italian Oil and gas company has announced a new discovery of oil and natural gas in Côte d’Ivoire. The discovery is expected to enhance the potential reserves of the country by 25%.
ENI, the Italian Oil and gas company has announced a new discovery of oil and natural gas in Côte d’Ivoire. The discovery is expected to enhance the potential reserves of the country by 25%. Thomas Camara, the Ivorian Energy Minister disclosed that the discovery would increase many folds Ivory Coast’s proven reserves in the near future. Extraction on the latest discovery is expected to start in early 2023.
Following a $185 million investment in energy exploration, ENI announced a major discovery in September 2021, of offshore oil and gas resources in Ivory Coast. The company revealed that its deep-water exploration led to the discovery at 3,445 meters deep of the field with an estimated two billion barrels of oil and 51 million cubic meters of natural gas.
Out of the 51 identified oil fields of Côte d’Ivoire, only four are in production. About 26 are still in exploration and 21 are yet to be untapped. In 2019, contracts for exploration were signed with Eni and France’s Total at an initial investment cost of $185 million for exploration. Côte d’Ivoire’s ambition according to its president Alassane Ouattara is to emerge as a major oil producer though currently its output is modest, at around 30,000 barrels per day.
Also read
https://trendsnafrica.com/tiemoko-meyliet-kone-new-vice-president-of-ivory-coast/
https://trendsnafrica.com/ivory-coasts-former-president-laurent-gbagbo-forms-a-new-political-party/
