Eni boosts Baleine discovery with follow-up exploration

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Eni (MIL:ENI) has drilled an exploration hole marking a second discovery at the Baleine structure offshore Ivory Coast.

The Italian company drilled the Baleine East 1X well, the first well at CI-802. The company described the results of the well as “excellent,” increasing hydrocarbons in the Baleine field to 2.5 billion barrels of oil and 3.3 trillion cubic feet of gas.

The Baleine East 1X found a continuous oil column of around 48 meters. A horizontal section of 850 meters delivered a production test flow of “at least” 12,000 barrels of oil per day and 14 million cubic feet per day of gas.

Eni used the drilling ship Saipem 12000. The drilling reached a final depth of 3,165 meters in around 1,150 meters water depth.

In CI-101, it drilled the well from 5 km east of the Baleine discovery.

drilling and development

Eni will now drill a third well in the Baleine field. It is projected to reach first oil in the first half of 2023, just 18 months after Baleine’s initial discovery.

The Baleine East 1X well will provide Eni with additional data to optimize overall field development.

The Italian company is the operator of block CI-802 with a 90% share. The state-owned Petroci holds the remaining 10%. The Baleine field includes two blocks, CI-101 and CI-802, while Eni also owns CI-205, CI-501, CI-504, CI-401 and CI-801.

The company made the first Baleine discovery with Saipem 10,000 in September 2021. The company originally put the volume of this find at more than 2 billion barrels of oil and 2.4 tcf of gas.

Eni CEO Claudio Descalzi has said in talks with Ivory Coast President Alassane Ouattara that the project would be net-zero for its Scope 1 and 2 emissions. What cannot be avoided is offset by the provision of improved cooking stoves and forestry projects.

ENI will announce its second quarter results on July 29th.

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