The two blocks, CI-501 and CI-504, are located at about 30 km from the coastline and cover a total area of about 911 square kilometers. Block CI-501 (512 sqkm) is located 80 km south-west of the capital Abidjan at between 100 and 2,400 m of water depth, while block CI-504 (399 sqkm) is about 60 km south-west of the capital and at between 1,000 and 2,350 m of water depth.
Eni is operator in both blocks with a 90% stake, while the state company Petroci holds the remaining 10%. The two blocks are adjacent to the north of Block CI-205, already operated by Eni (Eni 90%, Petroci 10%). Due to their geological continuity, the blocks will be studied in synergy, utilizing Eni’s proprietary technologies, with cost optimization and facilitating time-to-market in the event of a petroleum discovery and commercial development.
Eni has returned to Ivory Coast in 2015, by acquiring 30% of the exploration block CI-100. The company currently detains 5 deep water blocks, 4 of which are operated through its subsidiary Eni Côte d’Ivoire Limited. Eni had been active in Ivory Coast’s upstream and downstream sectors in the 60s and 80s.
Source: Company Press Release
