The FPSO Florence will enable the start-up of production from the Baleine field, currently the largest hydrocarbon discovery in Côte d’Ivoire, with an estimated 2.5 billion barrels of oil in place and 3.3 trillion cubic feet of associated gas. The Baleine development is also expected to become Africa’s first net-zero upstream project. Upon its arrival in Ivory Coast, the vessel will be renamed FPSO Baleine. The unit has been refurbished and upgraded to process up to 15,000 barrels of oil per day (bbl/d) and approximately 25 million standard cubic feet per day (MMscf/d) of associated gas. All produced gas will be transported onshore through a newly constructed export pipeline.

The project involves upgrading the Reactor and Regenerator sections of the FCC Unit at Lukoil’s refinery in Bulgaria. This upgrade will boost the unit’s efficiency, enabling it to process more oil and produce higher-quality products. Additionally, it sets the stage for Lukoil’s future investments in the refinery, positioning the company for long-term success in the industry.

North Safa is an active conventional oil field situated in shallow waters off the coast of Egypt. Specifically located in the Northeast Ramadan Concession block, the field operates at a water depth of 217 feet. Anticipated to reach peak production by 2026, North Safa’s oil extraction will persist until it reaches its economic limit in 2041, as per economic projections.