Ivory Coast has 51 identified oil fields. Of those, only four are in production whereas 26 remain in exploration and 21 are untapped. In 2019, Ivory Coast signed contracts for exploration with Eni and France’s Total. Between the two firms, in 2019 the firms put $185 million (136 million) into the initial investment in exploration.
Will Ivory Coast become a major oil producer?
President Alassane Ouattara has said he wants Ivory Coast to become a major oil producer. The West African nation’s current output is modest, at around 30,000 barrels per day. International companies including French giant Total and Britain’s Tullow Oil have also announced significant discoveries of Ivorian offshore oil reserves in recent years.
How much oil & gas does Ivory Coast have?
Estimates put the field reserves to between 1.5 to 2 billion barrels of oil and about 1.8 to 2.4 trillion cubic feet of gas. Ivory Coast is set to build Africa¡¯s first biomass power plant 100 km east from Abidjan.
How is crude oil transported in Ivory Coast?
In Ivory Coast, the traffic (import-export) of crude oil and gas occupies an important place in maritime transport, and is ensured by oil vessels/tankers. Pipelines are used either to transport crude oil to refineries or to transport refined products to intermediate depots from refineries.