Ivory Coast accelerates offshore growth with Baleine expansion, drilling campaigns

(WO) — Ivory Coast is strengthening its position as one of West Africa's fastest-growing upstream oil and gas markets, with major offshore developments advancing, new drilling campaigns planned and efforts underway to expand access to project financing across the continent. 

During a high-level meeting in Abidjan this week, officials from the African Energy Chamber (AEC) and Ivory Coast's Ministry of Mines, Petroleum and Energy reviewed ongoing upstream developments and discussed strategies to attract additional investment into the country's offshore sector.

Central to Ivory Coast's growth outlook is the Baleine field development, operated by Eni in partnership with Petroci and Vitol. The project's third development phase is expected to boost production to approximately 150,000 bpd while continuing to supply associated natural gas to the domestic power market.

Officials also highlighted upcoming drilling activity across the country's offshore acreage. VAALCO Energy and partner CNR International are preparing a new drilling campaign on Block CI-40 as part of a broader redevelopment and production optimization program.

Meanwhile, Murphy Oil continues to advance exploration plans offshore Ivory Coast, including a multi-well drilling campaign targeting the Civette, Caracal and Bubale prospects. The country has also attracted renewed interest from international operators, including Petrobras, which recently secured multiple offshore exploration blocks.

"What we are seeing in Ivory Coast is not incremental progress — it is a clear acceleration of upstream momentum," said NJ Ayuk, executive chairman of the African Energy Chamber. "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."

The discussions also addressed progress toward establishing the Africa Energy Bank, an initiative designed to improve access to capital for African energy projects. According to participants, efforts to operationalize the institution continue, with the goal of supporting both public- and private-sector investment in oil and gas developments across the continent.

In addition to upstream growth, stakeholders reviewed plans to expand refining capacity and strengthen local participation in the energy value chain through increased support for domestic service companies and workforce development initiatives.

The latest developments underscore Ivory Coast's growing role as a regional offshore exploration and production hub, as operators continue to advance new projects and expand activity across the country's offshore basin.