Ivory Coast’s national oil company Petroci has signed a financing agreement with a consortium of banks — including ECOBANK, BNI, BNI Finances, CORIS Bank, and Bank of Africa — to raise 200 billion FCFA in support of the phased expansion of the offshore Baleine field.
The capital will be deployed to advance the ongoing Phase Two development of the Baleine project and to fund the launch of Phase Three, which targets a production increase of 150,000 barrels of oil per day and 200 million cubic feet of gas per day.
Petroci holds a 22.75% stake in the Baleine project, alongside operator Eni with 47.25% and Vitol with 30%.
Source: energycapitalpower.com