Ivory Coast’s economic growth is poised to accelerate in the next five years as the country sees an increase in oil and gas activity, Planning and Development Minister Kaba Niale said. “We can do a much stronger growth rate in the coming five years,” Niale said in an interview at an African Development Bank conference […]
Aberdeen’s offshore engineering capabilities are playing a growing role in supporting fast-track deepwater development in West Africa, as Altera Infrastructure highlighted this week at the Wider African Energy Summit in Aberdeen.
“By 2035, crude-oil production is expected to reach at least 500,000 barrels per day, placing our country among the top five oil-producing countries on the continent,” Minister of Petroleum, Energy and Mines Mamadou Sangafowa-Coulibaly said. “Natural gas will account for 1 million cubic feet per day.”
Ivory Coast has exceeded initial estimates for production from its Baleine oil and gas field, according to government spokesman Amadou Coulibaly.
Italian oil and gas major, Eni and Ivorian Ministry of Mines, Oil and Energy have signed contracts for the acquisition of four(4) new exploration blocks in the country’s offshore.
The contracts, which were signed in Abidjan further consolidates Eni’s presence in the West African nation.
Eni SpA is planning to sell a stake in its Ivory Coast exploration operations in a potential deal that could be worth about €1 billion ($1.1 billion), according to people with knowledge of the matter.
Nigeria, once the sought-after beautiful bride by many oil investment suitors, is facing stiff competition from Namibia and Ivory Coast, who are emerging as the hottest destinations for oil majors in 2024.
Ivory Coast’s oil minister announced the signing of production-sharing agreements with ExxonMobil for two ultra-deepwater blocks in the Gulf of Guinea.
Oil and gas supermajor, Eni, will invest $10 billion toward the development of the Baleine field offshore Ivory Coast. The investment will be made in three phases between 2023 and 2027 and will result in the production of 200,000 barrels of crude oil per day (bpd).