The new well would hold a significant tonnage of barrels of crude oil, as well as associated gas

"Giant" oil field discovered in Ivorian waters

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The Eni, Italian Energy Group reported in a statement the discovery of an oil field of immense proportions offshore Côte d'Ivoire. The statement said the field could contain up to "two billion barrels of crude oil".

The group also reported that the new discovery could contain 1.8-2.4 trillion cubic feet of associated gas. The statement said the discovery had been made in the Ivory Coast sedimentary basin of the deepwater CI-101 block.

The Ivorian Minister of Mines, Petroleum and Energy, Thomas Camara, indicated that "this is therefore an important discovery that will greatly increase Côte d'Ivoire's proven reserves, as well as its oil and gas production in the coming years".

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Eni said the well was drilled "approximately 60 kilometres offshore at a water depth of 1,200 metres" and that it reached a total depth of 3,445 metres in 30 days.

The company welcomed this "triumph" after 20 years of "industrial exploration in the country's deep waters, without any commercial discovery since the last hydrocarbon discovery in 2001".

In another context, Eni director Claudio Descalzi said the Gulf area remains "a strategic area for the Italian energy group", and that it will invest "around $20 billion in it over the next five to six years". "It is certainly a strategic area for us, not only to invest but to invest in the energy transition," he concluded.

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