Baleine oil and gas project in Côte d’Ivoire has entered its final development stage after the government formally approved the third phase of investment, unlocking nearly $4 billion in additional funding for what is considered the country’s largest hydrocarbon discovery.
The decision was confirmed during a ceremony in Abidjan on May 25, 2026, attended by Prime Minister Robert Beugré Mambé and a consortium of investors led by Eni, alongside PETROCI Holding and global trading firm Vitol.
The approval marks a significant milestone in the multi phase development of the Baleine field, which has been described by officials and industry analysts as a transformative project for Côte d’Ivoire’s oil and gas sector due to its scale and production potential.
With this latest investment decision, the project moves into its final development phase, expected to significantly expand production capacity and strengthen the country’s position as an emerging energy producer in West Africa.
Authorities say the additional investment will be directed toward expanding offshore infrastructure, enhancing production facilities, and accelerating output from the field. The Baleine project is also expected to support broader national energy security objectives while increasing export revenues.
The development is part of Côte d’Ivoire’s wider strategy to attract large scale foreign investment into its hydrocarbons sector, which has gained momentum in recent years following new offshore discoveries and increased exploration activity.
Energy officials have previously described Baleine as a strategic asset that could reshape the country’s economic outlook by boosting foreign exchange earnings and creating new industrial opportunities linked to oil and gas production.
Eni, which leads the consortium, has played a central role in the discovery and development of the field since initial exploration success. The company has continued to expand its upstream operations in West Africa, where it maintains a strong portfolio of offshore assets.
Industry observers note that the latest investment decision reflects growing confidence in Côte d’Ivoire’s regulatory environment and its ability to attract long term capital for large scale energy projects.
The inclusion of Vitol, one of the world’s largest independent energy traders, also underscores the commercial importance of the project in global energy markets, particularly as demand for diversified supply sources continues to shape investment flows.
The Baleine project is expected to have a significant impact on Côte d’Ivoire’s economy once fully operational, potentially increasing government revenue, strengthening export capacity, and supporting downstream energy infrastructure development.
As the project moves toward completion, attention will now focus on execution timelines, production ramp up, and how effectively the country can leverage the investment to drive broader economic growth.
