In Côte d’Ivoire, the ENI-Petroci-Vitol consortium signed earlier this week the Phase 3 agreement of the “Baleine” oil project. A $4 billion investment plan was announced. Through this major crude oil and gas field located off the country’s southwest coast, Ivorian authorities hope to achieve greater energy independence.

The exploitation of the “Baleine” field is being carried out offshore, near Assinie. The site has been operational since August 2023. According to Mamadou Sangafowa-Coulibaly, Côte d’Ivoire’s Minister of Mines, Petroleum and Energy, the new investment will “significantly increase our national oil and gas production and strengthen our energy security.”

Estimates indicate that oil production is expected to rise from 60,000 to 150,000 barrels per day, while gas production should increase from 80 million to 200 million cubic feet per day.

“This production will help secure the gas supply intended for electricity generation,” the Minister said, emphasizing that the project will also support the country’s industrialization ambitions.

At present, natural gas production already meets domestic demand. However, challenges remain regarding crude oil refining. “The SIR (Société Ivoirienne de Raffinage) continues to import supplies while waiting to process crude oil from the Baleine field,” a source close to the matter explained.

According to the same source, “the SIR refinery was not designed to process crude oil of this quality.” To address this issue, “a new refining plant would need to be built.”