AlwaysFree: Eni Announces Giant Offshore Oil Discovery In Ivory Coast

Italian energy company Eni on Wednesday announced that it had discovered giant oil reserves in an offshore block in Ivory Coast. Eni noted that block CI-101 could contain 1.5-2.0 billion barrels of crude oil and 1.8-2.4 trillion cubic feet of associated gas. The company said it would conduct an evaluation program to assess the significant potential of the overall structure that extends into block CI-802. Eni owns a 90% stake and operates the block CI-101, while the remaining 10% interest is owned by Petroci Holding. Eni is one of the largest international oil companies operating in Africa. It has assets in Libya, Nigeria, Angola, Mozambique, and Egypt.