What's Happening?
Eni has reported a significant gas and condensate discovery offshore Côte d’Ivoire with the Murene South-1X exploration well in Block CI-501. This discovery, named Calao South, is estimated to contain up to 5 trillion cubic feet of gas and 450 million
barrels of condensate, making it the country's second-largest discovery after the Baleine field. The well encountered hydrocarbons in high-quality Cenomanian sand reservoirs and confirmed approximately 50 meters of gross hydrocarbon-bearing interval with strong petrophysical properties. The Murene South-1X was drilled to a total depth of approximately 5,000 meters in 2,200 meters of water using the Saipem Santorini drillship. A full drill stem test is planned to assess production capacity and support appraisal of the Calao complex. Eni operates Block CI-501 with a 90% interest, alongside partner Petroci Holding, which holds the remaining 10%.
Why It's Important?
This discovery is significant as it enhances Côte d’Ivoire's potential as a major player in the energy sector, particularly in the West African region. The discovery could lead to increased energy production, contributing to the country's energy security and economic growth. For Eni, this strengthens its portfolio in Africa, aligning with its strategy to expand its presence in the continent's energy sector. The discovery also supports the continued exploration and development of Côte d’Ivoire’s offshore basin, potentially attracting further investment and interest from other international energy companies.
