Can you tell us about Eni’s presence in Africa? 

Today, over 50% of our hydrocarbon production and reserves come from Africa, and we plan to allocate over 50% of our upstream CapEx here in the future, with a focus on gas to bolster domestic energy needs while also meeting European demand and advancing the energy transition.

Can you discuss Eni’s operations in West Africa and the importance of recent discoveries in Côte d’Ivoire? 

Some of our recent advancements, such as the discovery of Calao in Côte d'Ivoire, are restoring interest in the country’s offshore and have opened up new business opportunities for our upstream portfolio, setting the stage for further developments.

In Côte d'Ivoire, Phase 1 of the Baleine project has surpassed all expectations in terms of operational success. Currently, oil production has reached over 23,000 bpd, nearly doubling the initial projection of 12,000 bpd. This strong performance sets the stage for further expansion. With the completion of Phase 2 by the end of 2024, production is expected to increase to more than 60,000 bpd. At full capacity, the field will produce up to 150,000 barrels of oil and 200 million scf of gas per day.

Baleine is a key development for Côte d'Ivoire. Natural gas production is supplied to the national grid to support the country’s energy needs and expand its role as a regional hub in the area. On top of that, Baleine will be the first net-zero emissions (scope 1 and 2) development in Africa, leveraging innovative technologies and initiatives. 

What is the importance of natural gas to unlocking economic growth in Africa and what is the rationale behind Eni’s Congo LNG project?    

Africa's growing energy demands make gas development crucial for regional and global energy security. It is Eni’s longstanding commitment to prioritize supplying the energy produced to local markets, with approximately 80% of Eni's gas production in 2022 remaining within the producing country.

This overarching strategy perfectly fits with Eni’s Congo LNG project. Indeed, gas volume is creating value for the country’s energy needs, while surplus gas is fueling LNG production, marking the country’s entry into the group of LNG exporting countries.

How is Eni fulfilling its commitments to sustainability in sub-Saharan Africa?  

Our initiatives include concrete plans crafted with governments to bolster access to energy, education, and healthcare, alongside fostering economic diversification and meeting the countries' needs.

We are integrating African countries into the biofuel value chain, utilizing agri-feedstock from degraded land. Furthermore, we have established a research center in the Republic of Congo dedicated to developing energy transition technologies for regional implementation.

We are also supporting access to more modern cooking systems in Congo, Côte d'Ivoire, Mozambique, Rwanda, and Angola. Traditional methods, such as open fires or basic stoves, have a negative impact in terms of health and the environment and contribute to 3.7 million premature deaths annually, with women and children most at risk. We will distribute improved cookstoves to 10 million people in sub-Saharan Africa by 2027, reaching 20 million people with advanced cooking solutions by 2030.

What are Eni’s commercial priorities and objectives in the region for 2024/2025?

In 2023, the exploration and production segment delivered outstanding growth, and we will continue to scale up our projects within the region. 

We are making significant progress on our project in Côte d'Ivoire. All drilling and installation activities are advancing on schedule and are being conducted with the highest safety standards.

In the Republic of Congo, the project’s second phase is being developed in parallel with the first to reach a total capacity of 4.5 billion cubic meters of gas annually by 2025.

Additionally, projects in Mozambique are progressing well. The Coral South project, the world’s first example of floating LNG in ultra-deep waters, has reached its production plateau and LNG exports have been ongoing since November 2022. Building on this success, Eni and its Area 4 partners are progressing with the development of the Coral field through a second FLNG project, Coral Norte. Operations are thriving also in Angola through Azule Energy, our JV with bp. Currently, Azule Energy is the largest equity producer of oil and gas in the country and has recently signed an agreement for a 42.5% interest in an offshore block in the Orange Basin in Namibia.