The African Energy Chamber (AEC) welcomes Petrobras’ decision to move forward with production sharing contracts for eight offshore blocks in Ivory Coast, marking a significant step toward unlocking the country’s largely untapped hydrocarbon potential.
Covering approximately 63,000 square-kilometers of sparsely explored acreage, the agreements highlight rising global confidence in West Africa’s upstream sector. With water depths ranging from nearshore zones to ultra-deepwater beyond 4,000 meters, the blocks offer substantial exploration upside and reinforce Ivory Coast’s position as an emerging frontier for oil and gas investment.
Ivory Coast has steadily positioned itself as one of West Africa’s most promising upstream markets following a series of recent discoveries, including Baleine – the country’s largest hydrocarbon find to date – and Calao, demonstrating the commercial viability of its offshore basins. Backed by a revised petroleum code, improved fiscal terms and an active licensing strategy, the government has accelerated efforts to attract international operators. The fact that nearly 75% of the country’s sedimentary basins will soon be under license reflects both strong investor confidence and a deliberate push to fast-track exploration in underdeveloped acreage.
The development follows Petrobras’ declaration of interest in nine blocks last year, with agreements now progressing for CI-513, CI-600, CI-601, CI-602, CI-603, CI-605, CI-701 and CI-702. Once finalized, the contracts will significantly expand licensed acreage and deepen the country’s exploration portfolio.
“This is exactly the kind of strategic investment Africa needs,” said NJ Ayuk, Executive Chairman of the AEC. “Petrobras’ expansion into Ivory Coast sends a clear message to global investors that Africa’s frontier basins remain highly attractive, commercially viable and essential to meeting future energy demand. We encourage more international and indigenous players to follow this example and partner with African nations to responsibly develop their resources.”
The AEC emphasizes that sustained investment in exploration is critical not only for energy security, but also for economic growth, job creation and infrastructure development across the continent. As Ivory Coast continues to open its upstream sector, stable fiscal terms and proactive licensing strategies will be key to maintaining momentum and attracting long-term capital.
Petrobras’ entry into these blocks represents a strong endorsement of Africa’s role in the global energy mix and a timely reminder that the continent’s resources must be developed to support both local prosperity and global energy stability.
