MILAN/ABIDJAN, May 25 (Reuters) - Italy's Eni said on Monday it and partners Petroci and Vitol have given approval for the final investment decision for the third phase of the Baleine project in Ivory Coast, marking a new stage in development of the country's largest hydrocarbon discovery.
Phase 3 will significantly expand output, with oil production set to rise to 150,000 barrels per day from 60,000 and gas output increasing to 200 million cubic feet per day from 80 million, the company said.
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The development includes the construction of a new floating production, storage and offloading (FPSO) unit aimed at ensuring high operational efficiency, safety standards and reduced environmental impact.
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Eni said all gas produced under the project will be directed to the domestic market, supporting Ivory Coast's energy needs, boosting power generation and aiding industrial development.
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Eni has been present in the African country since 2015, where it made the Baleine and Calao discoveries.
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The third phase is expected to be online in 32 to 36 months at a total cost of $4 billion, Eni told Reuters.
Reporting by Francesca Landini and Loucoumane Coulibaly; Writing by Anait Miridzhanian; Editing by David Holmes and Bernadette Baum
Source: Reuters