Côte d’Ivoire is planning to more than triple oil production by 2027, according to statements by President Alassane Ouattara. This expansion in production is due to the development of the Baleine and Calao offshore fields.
Increase in oil production in Côte d’Ivoire
At a recent joint session of Parliament, President Ouattara announced plans to invest more than $15 billion in the country’s oil industry. This investment aims to raise oil production from the current 60,000 barrels per day (bpd) to approximately 200,000 bpd over the next five years.
Eni, the Italian oil and gas company, committed a $10 billion investment for the development of the Baleine field. This field began production in August 2023 and has certified reserves of 2.5 billion barrels of oil and 3.3 trillion cubic feet of natural gas.
The company recently announced the discovery of the Calao field in March, with preliminary estimates suggesting a potential of between 1 and 1.5 billion barrels of oil. Drilling operations at Calao, carried out some 45 kilometers offshore in Block CI-205, reached a depth of 5,000 meters in water depths of approximately 2,200 meters. The well revealed the presence of light oil, gas and condensates in the Cenomanian strata, characterized by good to excellent permeability.
In this company, Eni acts in association with Petroci Holding. In addition, President Ouattara emphasized that the oil developments are framed in a context of strong economic growth for the country, with growth projections of around 7% between 2024 and 2027.
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Source: OGV Energy
Photo: Shutterstock
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