Egypt, Ivory Coast Expand Offshore Gas, Oil Exploration with Eni, BP Deals

Ivory Coast and Eni SpA have signed a contract for offshore oil exploration in the CI-707 block, marking a three-year initial phase with a minimum $20 million investment, building on Eni's ongoing developments at the Baleine and Calao fields. Meanwhile, Egypt has entered a new agreement with Eni's Egyptian subsidiary and BP to enhance natural gas exploration in the Mediterranean Sea, specifically targeting drilling an exploratory well in the Temsah concession area. This agreement, supported by Egypt's Ministry of Petroleum and Mineral Resources, aims to boost domestic oil and gas production through advanced exploration technologies and longstanding international cooperation. Both deals underscore Eni's significant role in West Africa and the Eastern Mediterranean energy sectors, with BP also playing a substantial role in Egypt's natural gas exploration and development. These initiatives align with Ivory Coast and Egypt's broader strategies to increase hydrocarbon output and energy security while promoting economic benefits from untapped offshore resources.