Altera Infrastructure has finalised principal agreements with Eni for the supply of a new floating production, storage and offloading (FPSO) vessel as part of the Baleine phase three project, located off the coast of Côte d’Ivoire.
The arrangements include engineering, procurement, construction, installation and commissioning (EPCIC) of the FPSO. They also include a fixed 15-year bareboat charter to support extended production from the Baleine oil and gas field.
The Baleine field, situated approximately 70km offshore Côte d’Ivoire in water depths between 700m and 1,300m, is moving into its third phase of development.
Under the new agreements, the FPSO will be built in China by Wison New Energies.
The vessel will have the capacity to produce 90,000 barrels of oil per day (bopd), process 160 million cubic feet per day (mcf/d) of gas and store up to 1.4 million barrels of crude oil.
Upon completion, phase three is expected to raise the total output of the Baleine field to roughly 150,000bopd and 200mcf/d of gas.
Altera production president Chris Brett said: “Baleine Phase 3 is an important milestone for Altera and demonstrates our ability to combine compelling commercial solutions for our customers, world-class offshore operations and access to international capital to support major energy developments offshore Africa.
“We are proud to deepen our expanding strategic partnership with Eni and our commitment to Côte d’Ivoire, while delivering a solution that has attracted strong support from leading global investors.
“This establishes an important platform for future growth and collaboration while further strengthening Altera’s position as a leading provider of offshore production and infrastructure solutions.”
All gas output from the project will be directed to Côte d’Ivoire’s domestic market, with the aim of meeting national energy demand, increasing electricity production and aiding the country’s industrial growth.
The development follows Altera’s involvement in Baleine phase two, during which the company redeployed FPSO the Petrojarl Kong and floating storage and offloading (FSO) unit the Yamoussoukro. Both these vessels are now operated by Altera.
Following construction, Altera will take ownership of the phase three FPSO and manage its long-term operation under a 15-year charter and related operating contracts.
Alongside finalising project agreements, Altera has arranged what it describes as the largest and most complex financing in its history, securing dedicated long-term funding from international institutional investors.
This financing arrangement is intended to provide financial coverage from the start of construction through to the end of the charter period.
In May 2026, Eni and its consortium partners Petroni and Vitol approved the final investment decision for Baleine phase three.
