Eni SpA will sell its assets in Africa to the global energy trader Vitol for 1.65 billion USD. This transaction concerns participations in projects in Côte d'Ivoire and the Republic of Congo. The two companies are already collaborating on oil production assets in Ghana

In a press release published on Wednesday, March 19, the Italian hydrocarbon giant announced the sale of stakes in assets located in Côte d'Ivoire and the Republic of Congo to the Swiss trading company Vitol. This transaction, worth $1.65 billion, involves oil and gas production projects as well as blocks in the exploration, evaluation and development phases. The sale allows Eni to readjust its asset portfolio in the upstream energy sector

As part of this agreement, Vitol will acquire a 30% stake in the Whale project, located in Côte d'Ivoire. This project represents an important part of Eni's investments in the region, with a 77.25% share held by the Italian company. Whale is particularly known for its oil and natural gas production, launched in August 2023, less than two years after the discovery of the field. This site is described as the largest discovery of hydrocarbons in the Ivorian sedimentary basin

In parallel, Vitol is also taking a 25% stake in the Congo LNG project in the Republic of Congo, where Eni currently holds 65% of the shares. The Congo LNG project aims to develop infrastructures for the production of liquefied natural gas (LNG) in the region. This acquisition strengthens Vitol's position in Central Africa, a strategic market for hydrocarbons