NEW WEST AFRICA ENERGY LEADER EMERGES

The African Energy Chamber (AEC) held high-level discussions with Ivory Coast’s Minister of Mines, Petroleum and Energy, Mamadou Sangafowa Coulibaly, in Abidjan on Tuesday, focusing on strategies to accelerate upstream development, attract greater investment and strengthen the institutional framework supporting the country’s long-term energy ambitions.

The meeting comes as Ivory Coast continues to solidify its position as one of West Africa’s most dynamic upstream markets, driven by increasing hydrocarbon production, active drilling programs and growing international interest in its offshore exploration opportunities.

A key focus of the discussions was the performance of the country’s flagship oil and gas projects. Particular attention was given to the continued success of Eni’s Baleine development, undertaken in partnership with Petroci and Vitol. The project remains a cornerstone of Ivory Coast’s production growth strategy, with Phase III expected to raise output to approximately 150,000 barrels per day. In addition to boosting crude production, the project supplies associated natural gas to the domestic power sector, strengthening the country’s energy security objectives.

The parties also reviewed ongoing and planned drilling activities across the offshore sector. VAALCO Energy, alongside its partner CNR International, is preparing a new drilling campaign on Block CI-40 following planned field upgrades. The initiative is expected to deliver production growth from 2026 through a redevelopment strategy focused on infill drilling and operational optimization.

Exploration activity across Ivory Coast’s offshore basin was another major topic of discussion. The Chamber highlighted Murphy Oil’s multi-well drilling campaign targeting prospects including Civette, Caracal and Bubale through 2025 and 2026. The meeting also noted renewed international confidence in the country’s upstream sector, reflected by Petrobras’ recent acquisition of several offshore exploration blocks.

Institutional reforms and energy financing initiatives also featured prominently in the discussions. Particular emphasis was placed on developments within the African Petroleum Producers’ Organization and ongoing efforts to establish the Africa Energy Bank. Minister Coulibaly reaffirmed the government’s commitment to supporting the bank’s operationalization, noting that progress is being made to ensure the institution can effectively mobilize capital and increase both public- and private-sector participation in African energy projects. The bank is expected to play a pivotal role in addressing financing challenges and advancing long-term energy development across the continent.

“What we are witnessing in Ivory Coast is far more than incremental growth—it is a significant acceleration of upstream activity. With major projects progressing, exploration expanding and financing mechanisms taking shape, the country is rapidly emerging as one of Africa’s most attractive destinations for energy investment,” said NJ Ayuk, Executive Chairman of the African Energy Chamber.

In addition to engagements with government stakeholders, the Chamber met with Africa Global Logistics (AGL), whose leadership outlined the company’s expanding contribution to the country’s oil and gas industry. AGL has become an important logistics and infrastructure partner, supporting major operators including Eni, Murphy Oil and CNR International. The company is also investing in new logistics infrastructure, further positioning Ivory Coast as a regional hub for energy supply chain services and enhancing operational efficiency across the sector.

The Chamber also held discussions with GES-Petrogaz, focusing on increasing local content participation, strengthening the role of domestic service providers and expanding skills development and entrepreneurship opportunities within the energy industry.

Further meetings were conducted with Société Ivoirienne de Raffinage (SIR), where plans to expand refining capacity were presented alongside initiatives aimed at enhancing national energy security and supporting the production of cleaner, lower-carbon fuels as part of the country’s broader industrialization agenda.