By John Ikani
Ivory Coast reported a fresh discovery of offshore oil and natural gas by Italian firm Eni on Thursday, expanding the potential of reserves found last year.
In September 2021, the country had announced a find of deposits estimated at between 1.5 and 2 billion barrels of oil and around 1.8-2.4 trillion cubic feet (51-68 million cubic metres) of gas.
The latest discovery in block CI-101 in the offshore Ivory Coast, “increases by about 25 percent” the previously announced deposits, the ministry for mines, oil and energy said in a statement, with extraction due to start in early 2023.
This is Eni’s first exploration well drilled off the Ivory Coast. Eni also owns a participating interest in four other blocks in Ivorian deep waters: CI-205, CI-501, CI-504 and CI-802, all with the same partner Petroci Holding.
The find comes after more than 20 years of exploration in the country’s deep waters that did not yield any commercial discoveries since the last hydrocarbon discovery in 2001.
President Alassane Ouattara has said he wants Ivory Coast to become a major oil producer. The West African nation’s current output is modest, at around 30,000 barrels per day.
International companies including French giant Total and Britain’s Tullow Oil have also announced significant discoveries of Ivorian offshore oil reserves in recent years.
