Cote d'Ivoire: Major Offshore Oil Discovery in Cote d'Ivoire By Italian Company Eni

Cote d'Ivoire says it has identified a major offshore oil and natural gas reservoir, after a deepwater exploration by the Italian oil company Eni.

The find will "greatly increase Cote d'Ivoire's proven reserves as well as its oil and gas production in the coming years," said energy minister Thomas Camara.

Eni, which drilled a 3,445-metre-deep well about 60 kilometres off the coast, said will carry out a further evaluation of the wider potential of the find.

Camara said the reservoir could hold 1.5 to 2 billion barrels of oil and around 51 million cubic metres of gas.

To date, Cote d'Ivoire has 51 identified oilfields, most of them offshore near the border with Ghana. Four are in production, 26 in exploration, and 21 are still open.

The country increased its oil production in 2019 by 12 percent, to reach 36,000 barrels a day.

It signed contracts in 2019 with Eni and the French oil giant Total to explore the possibility of increasing its oil production.

Total, Eni and other international oil companies, notably British firm Tullow Oil, announced significant discoveries of Ivorian offshore oil reserves in recent years.

(with AFP)

AllAfrica publishes around 800 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.