Italian energy company Eni is moving to accelerate the expansion of its offshore Baleine oil and gas project in Ivory Coast, a development estimated to cost approximately $4 billion.The company said higher global crude oil prices have improved the economic viability of speeding up the project timeline.

Baleine Phase 3, recently approved with partners Vitol and state-owned Petroci, is expected to significantly increase production capacity at the offshore field.According to company executives, the expansion aims to raise oil production from around 60,000 barrels per day to 150,000 barrels per day.Natural gas output is also projected to more than double, reaching about 200 million cubic feet per day.Most of the gas produced will be directed toward the domestic market in Ivory Coast to support local energy needs.

Eni Chief Operating Officer Guido Brusco stated that the company has experience completing similar offshore developments in roughly three years and believes the current market environment could shorten delivery schedules by several months.

The project includes the construction of a floating production, storage and offloading vessel (FPSO), which will be built in China and is expected to be completed by mid-2028.The Baleine project is part of Eni’s broader African energy strategy focused on rapidly developing offshore resources.The company is also evaluating similar energy infrastructure projects in other African countries, including Mozambique.Eni currently owns 47.25% of the Baleine field, while Vitol holds 30% and Petroci owns the remaining stake.A planned sale of a 10% stake to Azerbaijan’s SOCAR is still awaiting regulatory approval from Ivorian authorities.