Altera Infrastructure has taken a major step forward in the development of the Baleine Phase 3 offshore oil project after signing the principal agreements with Eni for the supply of a new floating production, storage and offloading (FPSO) vessel. The agreements cover the engineering, procurement, construction, installation and commissioning (EPCIC) of the new FPSO, together with a fixed 15-year bareboat charter that will support long-term production from one of West Africa’s fastest-growing offshore energy developments.
The Baleine Phase 3 project marks the next stage in the phased development of the Baleine field, located around 70 kilometers offshore Côte d’Ivoire in water depths ranging from 700 to 1,300 meters. The field has rapidly emerged as one of the country’s most strategic energy assets, supporting both crude oil production and domestic natural gas supply while reinforcing Côte d’Ivoire’s position as an important energy producer in West Africa.
The new FPSO will be constructed in China by Wison New Energies and is designed to produce up to 90,000 barrels of oil per day, process 160 million cubic feet of natural gas per day, and store approximately 1.4 million barrels of crude oil. Once Baleine Phase 3 enters production, total output from the Baleine field is expected to reach approximately 150,000 barrels of oil per day and 200 million cubic feet of gas per day, making it one of the largest offshore oil and gas developments in West Africa.
A key feature of the project is its contribution to Côte d’Ivoire’s domestic energy security. All natural gas produced from the Baleine development will be supplied to the local market, helping expand electricity generation capacity, strengthen industrial development and reduce reliance on imported energy resources. The project aligns with the country’s long-term strategy to increase energy availability while supporting economic growth through greater utilization of domestic natural gas resources.
The latest agreement builds on the successful execution of Baleine Phase 2, where Altera Infrastructure redeployed and now operates the FPSO Petrojarl Kong alongside the floating storage and offloading vessel (FSO) Yamoussoukro. The Phase 3 award further deepens Altera’s strategic partnership with Eni and significantly expands the company’s long-term presence in Côte d’Ivoire’s offshore energy sector.
Upon completion of construction, Altera Infrastructure will own the new FPSO and provide long-term operations under the 15-year bareboat charter and associated operating agreements. The long-term contract provides production certainty for the Baleine development while strengthening Altera’s position as a leading provider of offshore production infrastructure for complex deepwater projects.
Alongside the execution of the project agreements, Altera has also completed the largest and most sophisticated financing package in its history. The company secured long-term committed funding from leading international institutional investors, providing financial certainty from the start of construction through the full 15-year charter period. The financing underscores investor confidence in both the Baleine Phase 3 project and its long-term commercial outlook.
As global demand for reliable energy infrastructure continues to grow, the Baleine Phase 3 development represents another major milestone for both Altera Infrastructure and Eni. Combining advanced FPSO technology, long-term offshore operations and substantial production capacity, the project is expected to play a central role in Côte d’Ivoire’s energy future while reinforcing the Baleine field’s status as one of Africa’s most significant offshore oil and gas developments.
