Eni Baleine Project Surges Forward: Billion Phase 3 Investment Approved for Ivory Coast

Italian energy giant Eni and its partners have approved a landmark $4 billion investment for Phase 3 of the Eni Baleine project in Ivory Coast, marking the most ambitious expansion yet of the West African nation’s largest hydrocarbon discovery and signaling a new era of energy development across the continent.

The final investment decision, announced Monday, will see oil production surge to 150,000 barrels per day from the current 60,000, while gas output is set to more than double to 200 million cubic feet per day from 80 million—transformative figures for Ivory Coast’s energy landscape and broader economic prospects.

Eni Baleine Project Phase 3: A $4 Billion Bet on West African Energy

The Eni Baleine project has been a cornerstone of Ivory Coast’s energy ambitions since the Italian major made its initial discovery in the block. Phase 3 represents a significant escalation in both scale and ambition, with the construction of a new floating production, storage and offloading (FPSO) unit designed to ensure high operational efficiency, stringent safety standards, and reduced environmental impact.

The development partners—Eni, Ivory Coast’s national oil company Petroci, and global energy trader Vitol—anticipate the third phase will come online within 32 to 36 months, according to details shared with Reuters. The timeline places first oil from the expanded development in late 2028 or early 2029.

This latest commitment builds on the earlier phases of the Baleine development, which established Ivory Coast as an emerging oil and gas producer in the Gulf of Guinea. The project’s rapid progression from discovery to multi-phase development has been closely watched by energy analysts as a model for efficient upstream development in frontier basins.

How the Eni Baleine Project Will Transform Ivory Coast’s Domestic Energy Supply

A defining feature of the Eni Baleine project expansion is its commitment to domestic energy security. Eni has confirmed that all gas produced under the project will be directed to the domestic market, supporting Ivory Coast’s energy needs, boosting power generation capacity, and aiding industrial development.

This domestic gas focus positions the Baleine project as a catalyst for broader economic transformation. Ivory Coast, already one of West Africa’s more diversified economies, stands to benefit from reliable, domestically sourced gas that can underpin industrial expansion, reduce reliance on imported fuels, and provide the baseload power needed for manufacturing growth.

The country has been pursuing an ambitious industrialization strategy, and access to affordable, reliable energy has been identified as a critical bottleneck. The gas from Baleine Phase 3 could provide a significant portion of the feedstock needed for new power generation capacity, potentially accelerating Ivory Coast’s emergence as a regional manufacturing hub.

Eni has been present in Ivory Coast since 2015, and the company’s exploration success extends beyond Baleine. The Calao discovery, announced earlier in 2026, added further reserves to the company’s portfolio in the country, underscoring the prospectivity of Ivory Coast’s offshore acreage.

Eni Baleine Project Sets New Standards for African Energy Development

The Eni Baleine project has drawn attention not only for its production scale but also for its approach to environmental and social responsibility. The new FPSO unit for Phase 3 has been designed with enhanced environmental protections, reflecting growing investor and regulatory expectations around sustainable resource extraction.

The commitment to directing all gas production to the domestic market distinguishes Baleine from many African hydrocarbon developments, where export-oriented models have sometimes limited the direct benefits to host nations. By prioritizing domestic supply, the partnership is creating a template that other African producers may seek to replicate.

For Vitol, the global energy and commodities trading house that acquired a 30 percent stake in the Baleine project from Eni, the Phase 3 approval validates its strategic bet on West African upstream assets. The company’s participation brings trading expertise and market access that complement Eni’s technical capabilities and Petroci’s local knowledge.

The Ivory Coast government has expressed strong support for the development, viewing it as central to the nation’s energy transition strategy. The combination of increased oil revenues and domestic gas supply creates a dual economic benefit that extends far beyond the energy sector itself.

What the Eni Baleine Project Means for West African Energy Security

The expansion of the Eni Baleine project carries implications for energy security across the West African region. As countries grapple with the twin challenges of energy access and economic development, the Ivory Coast model—combining foreign technical expertise with a commitment to domestic supply—offers a compelling blueprint.

The $4 billion investment represents one of the largest single upstream commitments in West African history, reflecting both the quality of the Baleine asset and the partners’ confidence in Ivory Coast’s regulatory and fiscal environment. The project’s success could encourage further exploration and development activity across the region, potentially unlocking additional hydrocarbon resources that have remained undeveloped due to perceived investment risk.

With Phase 3 expected to reach full capacity within three years, Ivory Coast is poised to join the ranks of significant African oil producers while simultaneously building the gas infrastructure needed to power its industrial ambitions. The Eni Baleine project stands as testament to what strategic partnerships and a commitment to domestic value creation can achieve in Africa’s evolving energy landscape.

Source: MyJoyOnline