Middle East / Africa
Country profile: Cote d'Ivoire
|Location:||Western Africa, bordering the North Atlantic Ocean, between Ghana and Liberia|
|Climate:||tropical along coast, semiarid in far north; three seasons - warm and dry (November to March), hot and dry (March to May), hot and wet (June to October)|
|Terrain:||mostly flat to undulating plains; mountains in northwest|
|Size:||322460 sq. km total (Land area: 318000 sq. km Water area: 4460 sq.km)|
|Languages:||French (official), 60 native dialects with Dioula the most widely spoken|
|Government:||republic; multiparty presidential regime established 1960 note: the government is currently operating under a power-sharing agreement mandated by international mediators|
|Legal system:||based on French civil law system and customary law; judicial review in the Constitutional Chamber of the Supreme Court; accepts compulsory ICJ jurisdiction, with reservations|
|Currency:||Communaute Financiere Africaine franc (XOF); note|
Côte d’Ivoire’s oil industry started to take off in 2001 during a period of civil war. By 2007, oil exports represented 28 percent of the governments export revenues, surpassing cocoa and coffee, the country’s traditional export commodities. The majority of Côte d’Ivoire’s electricity is generated through natural gas-powered stations with hydroelectricity accounting for around 20 percent. While gradually becoming a net oil exporter, International Energy Agency (IEA) data indicates that more than half of domestic energy needs are met by combustible renewables and waste, mainly in the form of biomass.
There are several foreign companies participating in the Ivorian oil industry and, as of May 2008, Côte d’Ivoire became a candidate country for the Extractive Industries Transparency Initiative (EITI). As such, it has two years to become compliant with the EITI criteria and undergo validation. Membership could further boost foreign investment in the oil, natural gas and mining sectors.
Cote d'Ivoire's economy is heavily reliant on agriculture. The country's primarily exports include cocoa, coffee and timber. Together, the revenues from these exports make up approximately 40% of Cote d'Ivoire's gross domestic product (GDP), and approximately 70% of the total export earnings.
The West African state of Ivory Coast is known more as an oil refining country rather than as an oil producing one. While it does not have the prolific offshore oil fields of Nigeria, it does possess a modest upstream oil industry.
Its recoverable oil reserves have been estimated at 100 million barrels and recoverable gas reserves at 1.1 Tcf. Oil producing fields are Lion and Panthere (condensates).
The national oil company, Petroci, was established in 1975. Petroci was restructured in 1998 and four new entities were created: Petroci Holding, a fully state-owned company that is responsible for the state's portfolio management in the oil sector and the three subsidiaries; Petroci Exploration-Production, responsible for upstream hydrocarbon activities; Petroci-Gaz, responsible for development of the gas sector; and Petroci Industries-Services, responsible for all other related services. Up to 49% interest in the three subsidiaries is available to private sector investors. Petroci's role currently includes the development and maintainance of the main database on Cote d'Ivoire's oil assets, and the assumption of minority participation - generally between 5% and 15% - in the offshore ventures operated by international companies.
The gas reserves discovered in the 1980’s have begun to be developed and utilised. The main producing fields are Panthere, Kudu, Eland, Ibex, Gazelle and Foxtrot. The Ivory Coast is poised to become a regional gas exporter.
The downstream sector is an important part of the economy. Côte d’Ivoire has a complex refinery at Abidjan with an adjacent bitumen plant. The state’s interest in both plants has been scheduled for privatisation. The refinery receives crude via pipeline from the Lion and Panthere fields. It also receives crude from Nigeria. A major pipeline project from Côte d’Ivoire to Cameroon is being planned.
The Ivory Coast is self sufficient in producing refined petroleum products and is also a major supplier to the West African region. Six major oil companies are involved in marketing products in Côte d’Ivoire as well as the local PetroIvoire.
The Foxtrot offshore gas field was discovered along with the Panthere gas and condensate field in 1993 and the Lion oilfield in 1994, both of which came on stream in the mid 1990’s. The product is intended for use in local power generation with excess being sold to Ghana. Addax reworked the aging Espoir oil field in 1996, and a consortium led by Ranger Oil intend to develop the abandoned field at a cost of $250 million with initial production being estimated at 20,000 to 25,000 bpd.
Energy production and consumption
|Production:||57,700 bbl/day (2005 est.)||1 billion cu m (2005 est.)|
|Consumption:||27,000 bbl/day (2005 est.)||1 billion cu m (2005 est.)|
|Exports:||85,780 bbl/day (2004 est.)|
|Imports:||76,730 bbl/day (2004 est.)|
|Reserves:||250 million bbl (2007 est.)||27 billion cu m (2006 est.)|
Cote d'Ivoire - recent news
|02 Jun 21
||Cote d'Ivoire: Valaris announces floater contract award
Valaris has been awarded a one-well contract with Total E&P Côte d'Ivoire offshore Ivory Coast for drillship, VALARIS DS-12. The contract is expected to commence in the third quarter of 2021.
|17 Jul 20
||Cote d'Ivoire: PGS expands GeoStreamer coverage in deepwater Cote d’Ivoire
PGS has announced that modern imaging techniques applied to 12,000 sq km of broadband data unveil key plays in the West Africa Transform Margin exploration hot spot of Cote d'Ivoire.
|24 May 20
||Cote d'Ivoire: PGS releases new multi-azimuth GeoStreamer 3D for Cote d’Ivoire
The new 900 sq km multi-azimuth broadband seismic survey from PGS provides increased resolution and sharper imaging of prolific Upper Cretaceous plays in Côte d'Ivoire Block CI-706.
|18 May 20
||Cote d'Ivoire: Qatar Petroleum farms into Blocks CI-705 and CI-706 offshore Cote d'Ivoire in deal with Total
Qatar Petroleum has entered into a farm-in agreement with Total to acquire a 45% participating interest in Blocks CI-705 and CI-706, located in the Ivorian-Tano basin, offshore the Republic of Cote d'Ivoire.
|06 Jun 19
||Cote d'Ivoire: Eni awarded two exploration blocks offshore Ivory Coast
Eni has signed the contracts for two new exploration blocks in the eastern part of the sedimentary basin offshore Ivory Coast. The blocks - CI-501 and CI-504 - were part of the 20 blocks available at the end of 2018.
Cote d'Ivoire - more news
Other countries in this region
- Central Africa Republic,
- Congo (Brazzaville),
- Congo (Democratic Rep.),
- Equatorial Guinea,
- Guinea (Republic),
- Guinea Bissau,
- Sao Tome,
- Saudi Arabia,
- Sierra Leone,
- South Africa,
- South Sudan,
- United Arab Emirates,
- Western Sahara,