Eni and Partners Approve Baleine Phase 3 Investment Decision
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 25 2026
0mins
Eni and its partners Petroci and Vitol approved the final investment decision for the Baleine Phase 3 project, "marking a significant milestone in the development of the largest hydrocarbon discovery ever made in the country," the company said. The full-field Phase 3 development will increase oil production from 60,000 to 150,000 barrels per day and gas output from 80 to 200 million cubic feet per day. "Baleine is a testament to Eni's exploration and production model, built on excellence in exploration activities, the ability to develop projects through a fast-track and phased approach, and a consistent commitment to sustainability, in continuous dialogue with the host country. This project reflects our commitment to strengthening energy security, supporting local economic development and advancing a lower-carbon energy future," said Claudio Descalzi, Chief Executive Officer of Eni.
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Analyst Views on E
Wall Street analysts forecast E stock price to fall
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 54.050
Low
17.45
Averages
18.45
High
19.45
Current: 54.050
Low
17.45
Averages
18.45
High
19.45
About E
Eni SpA (Eni) is an Italy-based company engaged in the exploration, development and production of hydrocarbons, in the supply and marketing of gas, liquefied natural gas (LNG) and power, in the refining and marketing of petroleum products, in the production and marketing of basic petrochemicals, plastics and elastomers and in commodity trading. The Company's segments include Exploration & Production, Gas & Power, and Refining & Marketing. Its Exploration & Production segment engages in oil and natural gas exploration and field development and production, as well as LNG operations in over 40 countries, including Italy, Libya, Egypt, Norway, the United Kingdom, Angola, Congo, Nigeria, the United States, Kazakhstan, Algeria, Australia, Venezuela, Iraq, Ghana and Mozambique. Its Gas & Power segment engages in supply, trading and marketing of gas, LNG and electricity, international gas transport activities and commodity trading and derivatives.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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