In addition to outlining hydrocarbon developments, the minister’s participation is expected to generate new opportunities for collaboration between Côte d’Ivoire and Angola as the country seeks to become an oil and gas producer.
Côte d’Ivoire has achieved a number of milestones in its offshore market in recent months. From groundbreaking discoveries, to the start of production at the Belaine project, to the deployment of innovative net zero emissions technologies, the country is “putting the pieces together” to become a regional oil hub. To sustain upstream momentum, Côte d’Ivoire is promoting investment in field development and exploration, with Coulibaly expected to provide further details at the conference.
Côte d’Ivoire made its second major oil discovery to date in March this year, with Eni announcing light oil, gas and condensate in Block CI-205. Named Calao, the discovery could contain up to 1.5 billion barrels of oil equivalent. The Calao discovery follows the start of production from the first phase of the Baleine project – the largest hydrocarbon discovery made in the country – in August 2023. The country plans to start production from the second phase in December 2024, increasing production from 22,000 barrels per day (bpd) and 14 million cubic feet (mcf) to 60,000 bpd and 70 mcf, respectively. This will be achieved through the use of a second FPSO vessel and a new FSO vessel, moored alongside the Baleine FPSO.
Beyond the second phase, the project’s developer, Eni, has plans to further increase production capacity. The third phase is targeted at an additional 70,000 bpd, bringing total capacity to 150,000 bpd and 200 mcf. This will be supported by an investment of more than $10 billion by the Italian multinational – demonstrating its long-term approach to monetising Ivory Coast’s oil and gas resources.
Angola has also attracted recent multi-billion dollar commitments to boost offshore exploration and development. Energy company ExxonMobil could invest up to $15 billion in the offshore Namibe Basin, following successful drilling. The company made a discovery in the Likember-01 exploration well in Block 15 in 2024, signalling strong growth potential for the producing asset.
Although Ivory Coast is still an inexperienced producer, the collaboration between the two countries could serve to accelerate the pace of offshore projects, according to a statement from the AOG organisation sent to VerAngola.
During the conference, Coulibaly will participate in a ministerial panel alongside the ministers of energy and hydrocarbons from Angola, the Republic of Congo, the Democratic Republic of Congo and the African Petroleum Producers Organization. The panel - 'Bridging Borders: Leveraging the oil and gas sector to promote regional trade' - will explore opportunities for mutual collaboration, trade, investment and strategies to strengthen regional integration in Africa.
It is worth noting that AOG is the largest oil and gas event in the country. Held with the support of the Ministry of Mineral Resources, Oil and Gas, the Petroleum Derivatives Regulatory Institute, ANPG, Sonangol and the African Energy Chamber, the event aims to be a platform for the signing of agreements and the advancement of the national oil and gas industry.
