Italian energy major Eni has reinforced its long-term commitment to Africa’s hydrocarbon sector, announcing two major discoveries in Ivory Coast and Angola in February 2026 as part of its expanding exploration drive across the continent.
The discoveries, confirmed in offshore blocks in both countries, reflect a deliberate dual-track strategy by Eni: opening new exploration frontiers in emerging producer markets while sustaining output in Africa’s established oil and gas economies.
The African Energy Chamber (AEC) described the developments as strategic wins for Africa, noting that large-scale discoveries remain critical to energy security, fiscal stability and industrial growth across the continent.
Ivory Coast Discovery Signals Gas Breakthrough
In Ivory Coast, Eni successfully drilled the Murene South-1X exploration well in Block CI-501, confirming the Calao South discovery within the Calao channel complex. Initial estimates point to recoverable resources of about 5 trillion cubic feet of gas and 450 million barrels of condensate, positioning the find as a potential game-changer for the country’s gas market.
The well, drilled in deep water of approximately 5,000 metres, encountered high-quality reservoir sands and will undergo further testing to assess production potential. Industry analysts say the scale of the discovery could significantly accelerate Ivory Coast’s push toward energy self-sufficiency and gas-to-power expansion.
Calao South also strengthens Eni’s growing portfolio in the country, complementing the fast-tracked Baleine Field development. Baleine is already producing over 62,000 barrels of oil and 75 million cubic feet of gas per day and is expected to scale up further under Phase 3, targeting 150,000 barrels of oil and 200 million cubic feet of gas per day.
Angola Discovery Reinforces Production Stability
In Angola, Eni’s exploration momentum continues through its joint venture Azule Energy, which announced the Algaita-01 oil discovery in Block 15/06, one of the country’s most productive offshore assets.
The well encountered oil-bearing reservoirs across multiple intervals, with preliminary estimates placing recoverable resources at around 500 million barrels of oil. Its proximity to existing production infrastructure significantly improves commercial viability, lowering development costs and shortening timelines to first oil.
For Angola, a mature producer facing natural field decline, near-field discoveries such as Algaita-01 are seen as vital to sustaining production levels, government revenues and broader economic stability.
Exploration as an Economic Strategy
The AEC said Eni’s latest discoveries underscore the continued relevance of oil and gas to Africa’s development agenda, particularly as global capital becomes more selective.
“For emerging producers such as Ivory Coast, discoveries of this scale fast-track energy independence and domestic industrial growth. For mature producers like Angola, they underpin production stability and fiscal resilience,” the Chamber noted.
As appraisal and development planning advance, the discoveries are expected to stimulate further upstream investment and reinforce confidence in Africa’s geological potential.
Broader Continental Push
Beyond West and Southern Africa, Eni is advancing an aggressive exploration and gas monetisation strategy across the continent. The company plans to invest up to €24 billion over the next four years in North Africa, spanning Algeria, Libya and Egypt, while also expanding its LNG footprint through projects such as Congo LNG and Coral North.
According to NJ Ayuk, Executive Chairman of the African Energy Chamber, the discoveries send a clear signal to global investors that Africa remains competitive.
“Africa’s oil and gas resources are not relics of the past. They are foundational to industrialisation, power generation and economic sovereignty,” he said.
Outlook
With fresh discoveries in both frontier and mature basins, Eni’s latest results highlight Africa’s continued importance in global energy supply chains. For host countries, the projects offer renewed opportunities to translate natural resources into long-term development, energy security and economic resilience.
