Eni (E) and partners Petroci and Vitol approved the final investment decision for Cote d'Ivoire's Baleine Phase 3 project, advancing development of the country's largest hydrocarbon discovery, Eni said Monday.

The phase 3 development is expected to raise oil production to 150,000 barrels per day from 60,000 barrels and increase gas output to 200 million cubic feet per day from 80 million cubic feet per day, the company added.

Eni shares were down 0.6% in premarket activity Tuesday.