The World Bank has approved an $875 million financing package for Côte d’Ivoire and signed an interim agreement with Eni’s local unit to support the country’s fast-growing natural gas sector, including technical help for its new Gas Master Plan.
“This is a massive investment in Ivorian youth, the creation of productive jobs, and the resilience of local communities,” said Ousmane Diagana, the World Bank’s vice president for Western and Central Africa, adding that the technical support aims to give the country a clear road map for building the transmission and distribution infrastructure gas development will require.
The financing follows Eni’s decision to accelerate a $4 billion expansion of its offshore joint venture with Vitol, aimed at lifting Baleine Phase 3’s oil output to 150,000 barrels a day from 60,000 while also raising gas production. The package forms part of a broader World Bank commitment exceeding $17 billion across its lending and investment arms, as countries increasingly look to diversify their sources of gas supply.
Source: (worldoil.com)