Ivory Coast Unveils Ambitious Plan to Become Africa’s Fifth Largest Oil Producer by 2035
The world’s leading cocoa producer is setting its sights on a dramatic transformation of its energy landscape, with government officials announcing plans to increase oil production more than fivefold within the next decade. Minister of Petroleum, Energy and Mines Mamadou Sangafowa-Coulibaly revealed that Ivory Coast expects crude oil output to reach at least 500,000 barrels per day by 2035, positioning the nation among Africa’s top five oil-producing countries.
The ambitious expansion strategy is backed by significant offshore discoveries and major international partnerships. Italian energy giant Eni has made substantial hydrocarbon discoveries at the Baleine and Calao fields, with production already ramping up. The Baleine field recently entered its second phase, targeting 60,000 barrels per day, while a third phase is planned to more than double output to 150,000 barrels per day.
The transformation extends beyond production increases, with Ivory Coast expecting more than $16 billion in oil sector investments by 2030. These funds will support critical infrastructure development including pipelines, tankers, and railways. Additionally, Washington-based Yaatra Ventures has reached an agreement to build the country’s second petroleum refinery, representing a potential investment of $5.3 billion.
Source: worldoil.com