Oil Days 2025 in Dubai: Côte d'Ivoire, future West African oil and gas hub

Côte d'Ivoire, a major economic player in West Africa, is positioning its oil sector as a pillar of sustainable growth, exploiting its rich sedimentary basin to attract investment and meet growing energy demand. At the 3rd Petroleum Days in Dubai, a presentation by the Ministry of Mines, Petroleum and Energy, through Alpha OUATTARA, Director of Hydrocarbon Exploration and Production, detailed the country's ambitious vision to transform its hydrocarbon resources into an engine for economic diversification and environmental responsibility.

Côte d'Ivoire, the world's leading producer of cocoa, cashew nuts and rubber, is capitalising on its sedimentary basin of 50 oil blocks, which offers significant potential. The Baleine field, discovered in September 2021 with estimated resources of 2.5 billion barrels of oil and 3,300 billion standard cubic feet of gas, came on stream in August 2023. The Calao field, identified in March 2024, along with other prospects such as Paon, Eland, Gnou, Kudu and Gazelle, herald a robust pipeline for future production. By 2030, the country aims to significantly increase its crude oil and gas production, with projections showing gas production rising from 262 million cubic feet per day in 2024 to 600 million by 2030, covering 70% of its electricity needs.

Côte d'Ivoire is pursuing a vision of using its mineral and energy resources as a lever for sustained and inclusive growth. The country is implementing key strategies to attract foreign investment, including stability clauses, tax incentives, investment credits and accelerated negotiations of Production Sharing Contracts (PSCs). These measures, highlighted at the Oil Days, aim to balance investor confidence with national interests, as H.E. Mr Vacaba Diaby emphasised in his opening speech.

Major infrastructure projects are underway to support this growth. The construction of the SEEE quay, the development of the Exoleatech logistics base, a 14-inch gas pipeline linking Abidjan to Bouaké, and the extension of the natural gas network to Abidjan-Yopougon are all strengthening the sector's operational capacity. These developments are expected to create 123,000 direct and indirect jobs by 2030, contributing to economic diversification, with the extractive sector's share of GDP rising from 5.2% in 2021 to a more significant contribution.

Côte d'Ivoire is aligning its oil ambitions with environmental sustainability, a crucial issue in the global energy transition. The presentation focused on the integration of environmental commitments into PSCs, requiring operators to carry out regular environmental impact assessments (EIAs) and implement plans to reduce methane emissions. For example, the Whale field, operated by Eni, complies with strict environmental standards, including waste management and the use of low-emission technologies, reflecting the country's commitment to the Paris Agreement.

Inspired by regional practices, such as the Rovuma LNG project in Mozambique, Côte d'Ivoire is incorporating clauses into its CPPs to guarantee responsible extraction of resources. These measures are aimed at reconciling economic growth and ecological preservation, responding to the concerns raised at the Journées Pétrole on the balance between economic development and environmental management.

The expansion of the oil sector should transform Côte d'Ivoire into a net exporter of crude oil, reducing its dependence on agricultural exports and strengthening its economic resilience. The implementation of local content policies, a central pillar of the country's strategy, encourages the development of a skilled national workforce. By favouring local recruitment and training, as well as partnerships with operators such as Eni, Côte d'Ivoire is building a pool of skilled professionals to support the sector's long-term growth.

The sector's contribution to national wealth is expected to grow significantly, supporting the development of infrastructure and social programmes. As indicated in the presentation, the focus on local champions and human capital development will strengthen the economic fabric, in line with the pan-African drive for added value, discussed in the context of critical minerals at the Oil Days.

Côte d'Ivoire's oil sector is well on the way to becoming a model of sustainable resource management in Africa. By harnessing its geological potential, strategic investments and environmental commitments, the country is poised to meet its energy needs while contributing to regional energy security. The Oil Days, with insights from experts such as S&P Global, highlighted the importance of robust data and rigorous contract monitoring, principles that Côte d'Ivoire applies to ensure fair partnerships with international operators.

As Minister Sangafowa-Coulibaly's vision takes shape, Côte d'Ivoire is not only diversifying its economy, but also setting a precedent for how African nations can responsibly exploit their hydrocarbons. With production on the rise and new fields due to come on stream by 2028, the country is well on the way to a promising energy future.