Eni Signs Contracts for Two Ivory Coast Exploration Blocks
June 04 2019 - 4:41AM
Dow Jones News
By Patrick Costello
ENI SpA (ENI.MI) has signed contracts for two new exploration
blocks offshore Ivory Coast.
The two blocks, CI-501 and CI-504, cover roughly 911 square
kilometers about 30 kilometers from the African country's
coastline, the Italian oil major said late Monday. The two blocks
are adjacent to Block CI-205, which is already operated by Eni.
Eni will be the operator for both blocks with a 90% stake, with
the Ivory Coast's state-run oil company Petroci holding the
remaining 10%, it said.
Eni said it will study the blocks "in synergy" in order to
utilize proprietary technologies, and optimize costs and
time-to-market in the event of a petroleum discovery.
Write to Patrick Costello at patrick.costello@dowjones.com.
(END) Dow Jones Newswires
June 04, 2019 05:26 ET (09:26 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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