Eni is moving ahead with the next stage of Ivory Coast’s largest oil and gas development after awarding Altera Infrastructure a key contract to build and operate a new floating production, storage and offloading (FPSO) vessel for the Baleine offshore field.

The award marks another step in the Italian energy company’s $4 billion expansion of the project, which is expected to lift the country’s oil output and increase the supply of natural gas for domestic power generation.

It also reflects growing investor interest in West Africa’s offshore energy sector as countries seek to strengthen energy security and support economic growth.

Under agreements signed on July 3, Altera Infrastructure will oversee the design, construction, installation and commissioning of the new FPSO before operating the vessel under a 15-year contract, according to Offshore Energy. The vessel will be built by Wison New Energies in China.

Once completed, the FPSO will produce up to 90,000 barrels of crude oil a day, store 1.4 million barrels and process 160 million cubic feet of natural gas daily, making it a central part of Baleine’s next phase of development.

Baleine project enters a new phase

The contract follows Eni’s final investment decision on the third phase of the Baleine project, announced in May 2026.

The development carries an estimated investment of $4 billion and is expected to raise total production from the field to about 150,000 barrels of oil per day and 200 million cubic feet of natural gas per day.

That would mark a significant increase from August 2023, when the field began producing about 20,000 barrels of oil a day. Eni said all gas produced from Baleine will be supplied to Ivory Coast’s domestic market to support electricity generation and industrial activity.

Stronger partnerships support growth

Eni operates the Baleine field alongside Ivory Coast’s state-owned Petroci Holding.

The ownership group has expanded over the past year, with Swiss commodities trader Vitol acquiring a stake in September 2025, followed by Azerbaijan’s state oil company SOCAR joining the project.

For Altera Infrastructure, the latest contract builds on its existing relationship with Eni. The company already provides two production vessels for Baleine’s second phase and will now play a larger role in the project’s expansion.

Offshore investment backs Ivory Coast’s energy plans

The Baleine project has become a key part of Ivory Coast’s efforts to increase domestic energy production and meet rising electricity demand.

Under its National Energy Compact, published in 2025, the government aims to achieve universal access to electricity by 2030, compared with about 64% at the end of 2023.

The new FPSO is expected to begin operations between January and May 2029, roughly 32 to 36 months after the investment decision.

When it comes online, it will further strengthen Baleine’s position as one of West Africa’s most important offshore energy developments while providing additional gas to support the country’s growing economy.