Eni (E) shares were up more than 1% in recent trading on Monday after saying that it initiated production of phase 2 from the Baleine field in Cote d'Ivoire's offshore increasing the output to 60,000 barrels of oil per day and 70 million cubic feet of associated gas.
The floating production, storage and offloading unit Petrojarl Kong was deployed along with the Yamoussoukro unit for oil export and all processed gas will supply local energy needs via existing pipelines, the company said on Saturday.
With the start-up of Baleine's Phase 2 and plans for Phase 3 under study, Eni expects to increase production to 150,000 barrels of oil per day and 200 million cubic feet of associated gas.
Price: 27.28, Change: +0.33, Percent Change: +1.22
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