The African Energy Chamber (AEC) held high-level discussions on Tuesday in Abidjan with Mamadou Sangafowa Coulibaly, Minister of Mines, Petroleum and Energy, focused on accelerating upstream development, expanding investment inflows and strengthening institutional frameworks supporting the country’s long-term energy growth.
The meeting took place as Ivory Coast continues to consolidate its position as one of West Africa’s fastest-growing upstream markets, supported by rising production, active drilling campaigns and renewed international exploration interest across offshore acreage.
A key area of discussion was the performance of Ivory Coast’s flagship upstream developments, with emphasis on the strong operational results already achieved by key international operators and the continued positive momentum across the basin. Eni’s Baleine project, developed in partnership with Petroci and Vitol, remains central to Ivory Coast’s output growth trajectory, with its third development phase expected to significantly increase production to around 150,000 barrels per day. The project also continues to contribute associated gas to domestic power generation, reinforcing its strategic importance to national energy security.
The meeting also reviewed ongoing and upcoming drilling activity across producing assets. VAALCO Energy’s operations in offshore Block CI-40, in partnership with CNR International, are preparing a new drilling campaign following planned field upgrades, with production increases expected from 2026 as part of a broader redevelopment strategy centered on infill drilling and asset optimization.
Exploration momentum across Ivory Coast’s offshore basin was also highlighted, including Murphy Oil’s planned multi-well drilling campaign targeting prospects such as Civette, Caracal and Bubale over the 2025–2026 period. The engagement also noted renewed international interest in the country’s upstream sector, supported by its favorable investment environment, including Petrobras’ latest entry through the award of multiple offshore exploration blocks.
Institutional and financing developments were also a key point of discussion, particularly reforms within the African Petroleum Producers’ Organization and progress toward the establishment of the Africa Energy Bank. The Minister provided assurances that efforts to operationalize the bank are advancing, with work ongoing to ensure it becomes fully functional and able to drive greater participation from both public and private sector stakeholders. The initiative was underscored as a priority mechanism to expand access to capital for African energy projects and strengthen long-term upstream development across the continent.
“What we are seeing in Ivory Coast is not incremental progress – it is a clear acceleration of upstream momentum. With major projects advancing, new exploration entering the market, and financing frameworks taking shape, the country is positioning itself as one of Africa’s most compelling energy investment destinations,” said NJ Ayuk, Executive Chairman of the AEC.
The Chamber also held discussions with Africa Global Logistics (AGL), where leadership highlighted the company’s expanding role as a key logistics and infrastructure partner supporting Ivory Coast’s oil and gas sector. AGL has increasingly positioned itself as a central enabler of upstream activity, providing logistics, transport and operational support to major exploration companies including Eni, Murphy Oil and CNR International. The company is also investing in new logistics infrastructure in the country, reinforcing Ivory Coast’s emergence as a regional hub for energy supply chain services while improving efficiency and cost competitiveness for operators across the sector.
Further engagements included GES-Petrogaz, a local oil and gas services association, focused on strengthening the participation of domestic service providers in the energy value chain, improving the enabling environment for local companies and expanding skills development and entrepreneurship opportunities.
Discussions were also held with Société Ivoirienne de Raffinage (SIR), where plans to expand refining capacity were outlined alongside efforts to enhance national energy security and support the production of lower-carbon fuels as part of Ivory Coast’s broader industrial development strategy.
