1st oil discovery in Côte d’Ivoire in 20 years

Partagez:

Eni has just announced the discovery of oil in Block CI-101, offshore Côte d’Ivoire, which it shares with Petroci Holding.
This is good news for both the company and the country, which has been without a new discovery for 20 years.

Eni discovers the Whale-1x well

The global energy giant has just discovered an oil well, drilled on the Baleine prospect.
The company operated with the support of the Ivorian government. Baleine-1x discovered light oil (40° API) at two different stratigraphic levels.
The well was drilled some 60 kilometers off the coast, at a water depth of around 1,200 meters.
Using the Saipem 10000 drillship, the well reached a total depth of 3445 meters in 30 days.

An estimated potential of between 1.5 and 2 billion barrels of oil

Eni holds 90% of Block CI-101 in the exploration phase, with the remainder belonging to Petroci Holding.
To assess the significant upside potential of the overall structure extending into Block CI-802, the firms will carry out an appraisal program.
It should be noted that the second block in question is operated by the same companies, with the same interests.
The Baleine-1x well was located on the basis of a comprehensive analysis of a wide range of 3D seismic data and regional studies in the Côte d’Ivoire sedimentary basin.
The application of state-of-the-art technology, including smart wireline formation testing and fluid sampling, proved the presence of light oil-bearing intervals of Santonian and Cenomanian/Albian age.
In parallel with the appraisal program, Eni and Petroci Holding will also initiate studies for an accelerated development of the Baleine discovery.
The potential of the discovery can be preliminarily estimated at between 1.5 and 2 billion barrels of oil in place and between 1.8 and 2.4 trillion cubic feet (TCF) of associated gas.

The energy leader awaits the news

Baleine-1x is the first exploration well drilled by Eni in Côte d’Ivoire.
However, Eni has interests in four other blocks in Côte d’Ivoire’s deep waters: CI-205, CI-501, CI-504 and CI-802.
All with the same partner Petroci Holding.
Industrial exploration in the country’s deep waters had gone more than 20 years without a commercial discovery.
This, since the last hydrocarbon discovery in 2001.
Now, the Baleine-1x well in Block CI-101 has successfully tested a new concept of play in the sedimentary basin of Côte d’Ivoire.

British company Prax Group has filed for insolvency, putting hundreds of jobs at its Lindsey oil site at risk, according to Sky News.
Orlen announces the definitive halt of its Russian oil purchases for the Czech Republic, marking the end of deliveries by Rosneft following the contract expiry, amid evolving logistics and diversification of regional supply sources.
Equinor and Shell launch Adura, a new joint venture consolidating their main offshore assets in the United Kingdom, aiming to secure energy supply with an expected production of over 140,000 barrels of oil equivalent per day.
Equinor announces a new oil discovery estimated at between 9 and 15 mn barrels at the Johan Castberg field in the Barents Sea, strengthening the reserve potential in Norway's northern region.
Faced with recurrent shortages, Zambia is reorganising its fuel supply chain, notably issuing licences for operating new tanker trucks and service stations to enhance national energy security and reduce external dependence.
The closure of the Grangemouth refinery has triggered a record increase in UK oil inventories, highlighting growing dependence on imports and an expanding deficit in domestic refining capacity.
Mexco Energy Corporation reports an annual net profit of $1.71mn, up 27%, driven by increased hydrocarbon production despite persistently weak natural gas prices in the Permian Basin.
S&P Global Ratings lowers Ecopetrol's global rating to BB following Colombia's sovereign downgrade, while Moody’s Investors Service confirms the group's Ba1 rating with a stable outlook.
Shell group publicly clarifies it is neither considering discussions nor approaches for a potential takeover of its British rival BP, putting an end to recent media speculation about a possible merger between the two oil giants.
The anticipated increase in the tax deduction rate may encourage independent refineries in Shandong to restart fuel oil imports, compensating for limited crude oil import quotas.
Petro-Victory Energy Corp. starts drilling of the AND-5 well in the Potiguar Basin, Brazil, as the first phase of an operation financed through its strategic partnership with Azevedo & Travassos Energia.
The Texan Port of Corpus Christi has completed major widening and deepening work designed to accommodate more supertankers, thus strengthening its strategic position in the US market for crude oil and liquefied natural gas exports.
BP Prudhoe Bay Royalty Trust is offering its interest in Prudhoe Bay, North America’s largest oil field, as part of its planned dissolution, assisted by RedOaks Energy Advisors for this strategic asset transaction.
CNOOC Limited’s Hong Kong subsidiary and KazMunayGas have concluded a nine-year exploration and production contract covering nine hundred and fifty-eight square kilometres in Kazakhstan, sharing investment and operations equally.
Donald Trump announced that the United States will no longer oppose Chinese purchases of Iranian oil, immediately triggering a drop in global crude oil prices and profoundly reshaping international energy trade partnerships.
Research firm S&P Global Commodity Insights lifts its outlook for the fourth straight year, betting on three point five mn barrels per day from 2025 despite lower prices.
Enbridge plans to expand its infrastructure to increase oil transportation from the American Midwest to the Gulf Coast, anticipating rising exports and addressing current market logistical constraints.
US commercial crude inventories significantly decline by 3.1 million barrels, widely surpassing initial forecasts and immediately pushing international oil prices higher.
The UK could have hydrocarbon reserves twice as large as current official estimates, according to Offshore Energies UK, highlighting the impact of fiscal policies on forecasts and the economic future of the North Sea.
Following US strikes in Iran, international energy companies partially evacuate their teams from Iraq as a precaution, while Lukoil maintains its entire personnel on southern oilfields.