ENI is the Italian energy major with one of Africa’s most active upstream portfolios — operator of Baleine (Côte d’Ivoire, Africa’s first net-zero upstream), major positions in Nigeria, Angola, Mozambique, Libya, Algeria, Egypt and Congo. ENI’s Africa-first strategy makes it one of the most commercially important IOCs on the continent.
Company Profile
Key Developments
Baleine Phase 2 (Côte d'Ivoire) targeting first oil 2026 — 60,000 bopd and 140 mmscfd gas. NLNG shareholder (10.4%). Active in Mozambique LNG Area 4. Multiple Africa gas-to-power investments.
Key Risks
Multiple politically complex African jurisdictions. Mozambique LNG Area 4 affected by Cabo Delgado security (separate from TotalEnergies Area 1). Libya political instability.
What Happens Next
Baleine Phase 2 first oil (2026) and Phase 3 FID.