Ivory Coast: A new energy era begins with the arrival of major oil companies

Ivory Coast is establishing itself as a preferred destination for major global oil companies. At the CERAWeek 2025 in Houston, several majors, including BP, PETROBRAS, and VITOL, expressed their willingness to invest heavily in the Ivorian offshore sector, illustrating the country's growing attractiveness on the global energy stage. This momentum is driven by recent discoveries of oil fields and a favorable regulatory framework, bolstered by strategic reforms. These new investment intentions and concrete commitments from several leading players were recorded following the successful roadshow led by the Minister of Mines, Petroleum, and Energy, Mr. Mamadou Sangafowa COULIBALY, in the United States.

BP, ten years after its withdrawal from the country, officially announced its return by expressing its intention to explore new blocks, motivated by the stability of the business climate and the opportunities offered by the Ivorian sedimentary basin. Meanwhile, PETROBRAS, a key player in the Brazilian energy sector, plans to enter Ivory Coast by acquiring data on four offshore blocks and exploring a partnership with PETROCI, highlighting the geological similarities between the Ivorian and Brazilian sedimentary basins.

As for the Swiss giant VITOL, already active in oil distribution, it is diversifying its activities by integrating offshore exploration, while VAALCO Energy, an independent company based in Houston, is strengthening its commitment with the acquisition of new blocks after its initial establishment in March 2025. Murphy Oil, another major American player, plans to conduct its first drilling before the end of 2025, thereby consolidating its presence in the country with five blocks in its portfolio, one of which contains proven natural gas reserves.

These investments are accompanied by increased support from the United States, as evidenced by Ivory Coast's presence at a restricted ministerial meeting where Mr. Chris Wright, the U.S. Secretary of Energy, reaffirmed Washington's commitment to supporting the country's energy development. This international recognition reinforces Abidjan's position as a future regional energy hub.

It is noteworthy that the Houston roadshow marks a decisive step before the strategic meetings planned in New York with major players in the mining and energy sectors. The Ivorian ambition, driven by the vision of President Alassane OUATTARA, is to accelerate the exploitation of natural resources while consolidating the country's position among the most dynamic economies in Africa.

Source: Sika finance, MEPD Web Portal Editorial