ENI (E) and Côte d'Ivoire have reached an agreement for a new offshore oil exploration block, the CI-707. The announcement was made by Bloomberg, which cited the minutes of a cabinet meeting

Ivory Coast and Eni SpA have signed a contract for the acquisition of a new offshore oil exploration block, according to the minutes of a cabinet meeting. The CI-707 block agreement has a term of three years for the first phase and includes a minimum investment of $20 million

The Italian major has made important offshore hydrocarbon discoveries in the Whale and Calao fields, off the coast of this West African country. In December, the company launched a second phase at Baleine aimed at increasing production to 60,000 bbl/d. A third phase will more than double production to 150,000 b/d