Journées Pétrole 2025: Côte d'Ivoire defends African energy sovereignty at opening ceremony

The 3rd edition of Petroleum Days, a key platform for African energy collaboration, was officially opened today in Dubai by H.E. Vacaba Diaby, Ambassador of Côte d'Ivoire to the United Arab Emirates, representing Mamadou Sangafowa-Coulibaly, Minister of Mines, Petroleum and Energy of Côte d'Ivoire. Addressing a diverse audience of ministries, ambassadors, government representatives and industry leaders from more than 10 African countries, Mr Diaby emphasised the crucial role of hydrocarbons in promoting sustainable economic growth across the continent.

In his opening speech, Mr Diaby expressed deep pride in the gathering, highlighting the power of African unity to tackle common challenges. "Every time Africans come together to consider the development of our continent, I feel a special joy," he said. "We are on the right track, that of synergy, mobilising our strengths and skills, while collectively responding to our weaknesses."

Underlining the strategic importance of the energy sector, Mr Diaby recalled that no development is possible without energy, citing the world's largest economies as those with significant energy production and consumption capacities. He took the example of Côte d'Ivoire, where average GDP growth of 6% a year over the past decade has led to a 10% annual increase in demand for electricity, 70% of which depends on natural gas production. This growing demand for gas and petroleum products underlines the urgent need for efficient resource management.

The Journées Pétrole, initiated by 3M-Partners & Consulting in 2023, provide a platform for Africans to discuss the governance of the oil sector. Mr Diaby congratulated the firm on creating a space "by Africans, for Africans" dedicated to the crucial issues facing the sector. This year's theme, "The negotiation and monitoring of Production Sharing Contracts (PSCs)", reflects the need for balanced agreements that protect national interests while attracting international investment.

Mr Diaby stressed that effective negotiation of PSCs is the basis for optimal management of oil resources. Poorly negotiated contracts often favour international partners at the expense of local populations, he warned, while overly restrictive conditions could discourage investors in a capital-intensive and high-risk oil sector. "We need win-win partnerships with international investors prepared to share these risks", he said, welcoming the presence of the tax, treasury and customs administrations of the participating countries, whose collaboration is essential for fair negotiations and rigorous monitoring.

The Minister also emphasised the need for inter-administration synergy and a strengthening of skills to ensure effective monitoring of contracts. "The balance we are seeking in negotiating PPCs, between safeguarding our interests and maintaining attractive regulatory and fiscal frameworks, requires the joint involvement of all the public administrations concerned", he noted.

Mr Diaby assured participants that the recommendations arising from the workshops held over the three days of the forum would be taken to the highest decision-making level in the participating countries. These results aim to improve transparency and efficiency in the negotiation and monitoring of oil contracts. The event, held in Dubai, a global model of visionary hydrocarbon governance, also benefited from the expertise of S&P Global, whose knowledge of sedimentary basin development and data management should enrich the discussions.

The opening ceremony brought together high-level representatives, including ministers from Gabon and Chad, ambassadors from Guinea Conakry, and senior executives from 3M-Partners & Consulting, alongside oil companies and service providers. Mr Diaby's speech set an optimistic tone, encouraging participants to take advantage of the forum to foster collaboration and innovation.

In conclusion, H.E. Mr Vacaba Diaby declared the 3rd edition of the Oil Days open, calling for fruitful deliberations over the three days of the event. "This forum demonstrates our shared commitment to harnessing Africa's energy resources for sustainable growth," he said. "Let us use this platform to build a stronger and more unified approach to our continent's energy future.