Altera Infrastructure has taken a major step in expanding offshore energy production in West Africa after signing the principal agreements with Eni to supply a new floating production, storage and offloading (FPSO) vessel for the Baleine Phase 3 development offshore Côte d’Ivoire.
The agreements cover the engineering, procurement, construction, installation and commissioning (EPCIC) of the new FPSO, alongside a fixed 15-year bareboat charter that will support long-term production from one of Africa’s most significant offshore oil and gas developments.
Baleine Phase 3 Expands Production Capacity
Located about 70 kilometres off the coast of Côte d’Ivoire in water depths ranging between 700 and 1,300 metres, Baleine Phase 3 marks the next stage in the phased development of the Baleine field. Meanwhile, the FPSO will be constructed by Wison New Energies in China and will have the capacity to produce 90,000 barrels of oil per day, process 160 million cubic feet of natural gas daily, and store up to 1.4 million barrels of crude oil.
When combined with the existing Baleine developments, Phase 3 will increase total field production to approximately 150,000 barrels of oil per day and 200 million cubic feet of gas per day, positioning Baleine among the largest offshore energy projects in West Africa.
Supporting Côte d’Ivoire’s Energy Security
A key feature of the development is that all natural gas produced will supply Côte d’Ivoire’s domestic market. This will strengthen electricity generation, improve energy security, and support the country’s long-term industrial growth.
The project also builds on Altera Infrastructure’s successful execution of Baleine Phase 2, where the company redeployed and currently operates the FPSO Petrojarl Kong and the FSO Yamoussoukro. Phase 3 further deepens Altera’s strategic partnership with Eni while expanding its long-term operational footprint in Côte d’Ivoire.
Upon completion, Altera will own the FPSO and manage its operations under the 15-year charter agreement and associated operating contracts.
Record Financing Supports Long-Term Development
In parallel with the project agreements, the company also secured the largest financing package in its history. Leading international institutional investors committed long-term funding that will support construction through the entire 15-year charter period. The financing reflects strong market confidence in the project’s long-term commercial viability and credit quality.
Leadership Highlights Long-Term Growth
Commenting on the milestone, Chris Brett, President of Altera Production, said the project demonstrates the company’s ability to combine innovative commercial solutions, world-class offshore expertise, and access to international capital to deliver major offshore developments across Africa.
He noted that Baleine Phase 3 strengthens Altera’s long-standing partnership with Eni while reinforcing the company’s commitment to Côte d’Ivoire and creating a strong platform for future growth across the region.
Positioning for the Future
The project will extend Altera Infrastructure’s operational presence in Côte d’Ivoire into the mid-2040s while significantly increasing its long-term revenue backlog. It also highlights growing investor confidence in Africa’s offshore energy sector as governments continue investing in projects that enhance energy security, expand domestic gas supply, and drive sustainable economic development.
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