Ivory Coast continues to strengthen its image as one of the most dynamic hydrocarbon exploration and production markets in West Africa. During a high-level meeting held in Abidjan, the African Energy Chamber (AEC) and the Ministry of Mines, Petroleum and Energy analyzed the progress of the upstream sector, new investment opportunities, and financing mechanisms that will support the country’s energy growth.
The Baleine project reinforces the increase in production
One of the main topics discussed was the performance of the Baleine offshore project, developed by Eni in partnership with Petroci and Vitol. This initiative remains a cornerstone of Ivory Coast energy expansion thanks to the results achieved during its initial development phases.
Furthermore, the third phase of the project is expected to increase production to approximately 150,000 barrels per day. Simultaneously, the field will continue to supply associated gas for domestic electricity generation, contributing to strengthening the country’s energy security.
New drilling campaigns strengthen offshore activity
The authorities also reviewed current and planned drilling programs. Among them, VAALCO Energy’s upcoming campaign in the CI-40 offshore block, developed in partnership with CNR International, stands out.
The operations are part of an asset optimization and redevelopment strategy that includes new wells and operational improvements with the goal of increasing production from 2026 onwards.
Meanwhile, Murphy Oil is advancing a multi-well drilling campaign focused on the Civette, Caracal, and Bubale prospects. These activities reflect the growing exploration interest in the Ivorian marine basin and reinforce the country’s geological appeal to international investors.
International interest encourages new investments
The favorable regulatory environment and recent discoveries continue to attract foreign capital; in this context, Petrobras has strengthened its presence in Ivory Coast after obtaining several offshore exploration blocks.
The arrival of new operators complements the activity of established companies and helps diversify the country’s energy investment portfolio. This scenario strengthens Côte d’Ivoire’s competitiveness within the African energy market and broadens its long-term growth prospects.
The African Energy Bank is moving towards its launch
During the talks, progress related to the creation of the African Energy Bank was also analyzed, considered a strategic tool to expand access to financing for energy projects on the continent.
Authorities indicated that work continues to ensure the entity’s full operational capacity and to facilitate greater participation from both the public and private sectors. The goal is to mobilize capital to accelerate exploration and production projects and strengthen regional energy security.
Logistics, refining and local content gain prominence
In addition to upstream growth, the AEC held meetings with Africa Global Logistics (AGL), a company that plays an increasingly important role in providing logistics services to oil and gas operators in the country.
The company is developing new infrastructure aimed at improving the efficiency of the energy supply chain and strengthening Ivory Coast as a regional service center for industry.
Similarly, the meetings with GES-Petrogaz focused on expanding the participation of local companies within the energy value chain through training programs and business strengthening.
Finally, the Société Ivoirienne de Raffinage presented initiatives to expand national refining capacity and advance the production of fuels with lower emissions, aligned with the country’s industrial and energy strategy.
Source: Energychamber.org
Photo: Shutterstock
