Ivory Coast is home to several planned pipeline developments set to facilitate its integration with the wider region. The country is one of 13 African nations through which the planned Morocco-Nigeria Gas Pipeline will run, establishing West Africa as Europe¡¯s premier energy trading partner and providing an export route for future gas production.
Will Ivory Coast become a major oil producer?
In recent years, Ivory Coast has also upgraded its state-owned Société ivoirienne de raffinage refinery to enable the production of low-sulfur fuels leveraging new technologies. Ivory Coast is aiming to become a major oil producer in the near-term future, as it yields new deepwater discoveries and unlocks cutting-edge net-zero technologies.
How much oil does Ivory Coast produce a day?
Though Ivory Coast currently produces 30,000 barrels per day ¨C owing to the Baleine discovery that was fast-tracked into production last August ¨C additional offshore discoveries and regional pipeline projects signal significant development potential, particularly in deepwater acreage.
Why is Ivory Coast attracting upstream investment?
Following several world-class hydrocarbon discoveries, Ivory Coast is expanding its reserves base and attracting upstream investment from leading majors. Italy¡¯s Eni is investing $10 billion toward the development of the offshore Baleine field, set to result in the production of 200,000 barrels of crude oil per day across three phases through 2027.