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BUSINESS MEETINGS AND AGREEMENTS

NATURAL RESOURCES

The President of Côte d’Ivoire Alassane Ouattara and the CEO of Eni Claudio Descalzi announce a major discovery in block CI-205, offshore Côte d'Ivoire

The discovery, named Calao, stands as the second largest in the country, following the Baleine field discovered by Eni in September 2021

Abidjan (Côte d’Ivoire), 7 March 2024 - The President of the Republic of Côte d’Ivoire Alassane Ouattara and the Chief Executive Officer of Eni Claudio Descalzi met in Abidjan today to discuss the company’s activities in the country, including the successful results of the exploration well Murene 1X on the discovery named Calao. The Prime Minister Robert Beugré Mambé and the Minister of Mines, Petroleum, and Energy, Mamadou Sangafowa-Coulibaly, also participated in the meeting.

The Calao discovery was greeted as a significant one. Drilling operations took place approximately 45 kilometers off the coast in block CI-205, reaching a depth of 5,000 meters in water depths of around 2,200 meters. The well encountered light oil, gas, and condensates in various intervals of Cenomanian age characterized by good to excellent permeability values. Preliminary assessments indicate potential resources ranging between 1 and 1.5 billion barrels of oil equivalent. Eni operates the block in partnership with Petroci Holding.

President Ouattara and Mr. Descalzi discussed the appraisal and development plans for the discovery, including Eni’s commitment to meet the country’s domestic needs.

Eni operates in Côte d’Ivoire since 2015. In addition to block CI-205, Eni holds participating interests in five other blocks in Ivorian deep waters: CI-101, CI-401, CI-501, CI-801, and CI-802, all in partnership with Petroci Holding. Presently, Eni has an equity production of hydrocarbons totaling approximately 22,000 barrels of oil equivalent per day from the Baleine field, which started production in August 2023.

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