Italian energy giant Eni has commissioned Altera Infrastructure to provide a new floating production, storage and offloading (FPSO) vessel for the next phase of an oil and gas development project off the coast of Côte d’Ivoire, West Africa.
Altera Infrastructure has executed major agreements with Eni for the supply of a new FPSO unit for the construction Pisces stage 3 Maritime development in Côte d’Ivoire, which Final Investment Decision (FID) They were concluded in May 2026. These agreements cover the engineering, procurement, construction, installation and commissioning (EPCIC) of a new FPSO vessel, along with a 15-year fixed boatless charter that will support long-term production of Balin field.
Chris BrettThe president of Altera Production confirmed: “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 expanded strategic partnership with Eni and our commitment to Côte d’Ivoire, offering a solution that has attracted strong support from major global investors. This creates an important platform for future growth and collaboration while strengthening Altera’s position as a leading provider of offshore production and infrastructure solutions.
The project represents the next stage in the phased development of the African field, which is located approximately 70 kilometers offshore Côte d’Ivoire in water depths ranging from 700 to 1,300 metres. The new FPSO, to be built in China by Wesson’s new energiesIt will be able to produce 90,000 barrels of oil per day, process 160 million cubic feet of gas per day, and store up to 1.4 million barrels of crude oil.
Alongside the existing Balin projects, the third phase will increase the field’s total production to approximately 150,000 barrels of oil per day and 200 million cubic feet of gas per day, making the project one of the largest offshore energy development projects in West Africa. All gas produced will be allocated to the local market, contributing to meeting Côte d’Ivoire’s energy needs, expanding electricity generation and supporting the country’s industrial development.
The project is based on Altera delivery Pisces stage 2The company has redeployed and is now operating FPSO Petrogarl Kong and FSO Yamoussoukro. The next phase strengthens the company’s long-term strategic partnership with Eni while significantly expanding the company’s presence in Côte d’Ivoire. The project expands Altera Infrastructure’s operating presence in Côte d’Ivoire into the mid-2040s and enhances its cash flow accretion.
Upon completion of construction, Altera will own the FPSO and provide long-term operations under a 15-year charter and associated operating agreements. The company claims to have completed the largest and most complex financing in its history, securing committed long-term funding from international institutional investors.
This financing provides security from the beginning of construction until the 15-year lease period and represents a major confirmation of the long-term credit quality of the project. The project reinforces Altera Infrastructure’s strategy of combining innovative commercial solutions with world-class offshore operating capabilities to support major energy developments around the world.
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