Business & Economy

A huge oil discovery in an African country

The Italian energy group Eni announced today, Wednesday, that it had made a “huge” oil discovery in the territorial waters of Ivory Coast, which could contain up to two billion barrels of crude.
The company said, in a statement, that it had discovered light oil in the offshore area “CI-101”, adding that it may contain between 1.5 to 2.0 billion barrels of oil and 1.8 to 2.4 trillion cubic feet of associated gas.
Eni is one of the largest foreign oil and gas producers in Africa, with high-value assets in Libya, Nigeria and Angola, and is developing two major gas discoveries in Mozambique and Egypt.

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