The new find, named Calao South, was made after drilling the Murene South-1X, the first exploration well in Block CI-501, operated by Eni with a 90% stake in partnership with state-owned Petroci Holding.
Eni said Calao South “confirms the potential of the Calao channel complex that includes also the Calao discovery and represents the second‑largest in the country after Baleine, with estimated volumes of up to 5.0 trillion cubic feet of gas and 450 million barrels of condensate – approximately 1.4 billion barrels of oil.”
Output from Baleine, Ivory Coast’s largest hydrocarbon development, is expected to rise to 150,000 barrels of oil and 200 million cubic feet of gas per day with the launch of Phase 3, the company said, adding this would make the field a key asset for the country’s domestic needs.
Reporting by Claudia Cristoferi, editing Giulia Segreti – Reuters
This article was originally posted at sweetcrudereports.com
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