Côte d’Ivoire Ranked 6th Investment Hub in Africa’s Hydrocarbon Sector in 2025

In 2025, the African oil and gas investment landscape shows a strong concentration around a few major markets. However, a new destination is now emerging as a key player: Côte d’Ivoire, ranked sixth among Africa’s leading upstream investment hubs, particularly in oil exploration and production.

According to a recent Africa Business Insider analysis of capital flows in the hydrocarbons industry, Côte d’Ivoire is now positioning itself alongside established heavyweights such as Nigeria, Angola, and Mozambique, attracting significant investment in exploration and production activities.

Strong Investment Momentum

At the continental level, Nigeria continues to dominate upstream capital attraction. However, several so-called secondary markets—Angola, Congo, Uganda, Ghana, Gabon, and now Côte d’Ivoire—have each mobilized more than $500 million in investments. This trend confirms the sustained appetite of international oil majors for high-potential regions.

Côte d’Ivoire perfectly illustrates this emerging dynamic. The major discovery of the Baleine field, announced in 2021, has been a key driver. The field holds estimated resources of 2.5 billion barrels of oil and 3.3 trillion cubic feet of gas, making it one of the most promising energy projects in West Africa. This is further strengthened by the discovery of the Calao field, which enhances the attractiveness of the Ivorian sedimentary basin.

Structuring Projects and Strong Major Participation

Production has already begun with the development of Phase 2 of the Baleine field, while Phase 3 is currently in preparation. Several leading international players, including Eni, Vaalco Energy, and Murphy Oil, are actively engaged in exploration and development blocks, contributing to a steady rise in investment across the country.

Beyond its geological potential, Côte d’Ivoire has implemented reforms aimed at improving the business environment in the energy sector. Strengthening the regulatory framework, clarifying rules, and expanding strategic partnerships have significantly boosted investor confidence.

In this context, Ivorian authorities have actively promoted the Ivorian sedimentary basin to attract new players. These efforts have led companies such as Vaalco and Murphy to reinforce their commitments, while new entrants—including Petrobras—have opened negotiations to acquire new blocks.

A Clearly Stated Presidential Ambition

These developments are part of a clearly articulated political vision. President Alassane Ouattara has expressed a strong ambition to make the extractive sector a key driver of economic transformation.

To implement this strategy, the Head of State renewed his confidence in Mamadou Sangafowa Coulibaly as Minister of Mines, Petroleum and Energy during the formation of the new government, ensuring continuity in ongoing structural reforms.

Among the most significant initiatives is the adoption, on December 3, by the Council of Ministers, of the Integrated Policy for Mineral and Energy Resources (PIRME). This policy aims to increase the contribution of the mining-energy sector to GDP from 7% in 2022 to 14% by 2040. In the medium term, Côte d’Ivoire aims to reach oil production of 500,000 barrels per day by 2035, a target that would place the country among the top five oil producers in Africa.

A Strong Signal for Africa’s New Energy Landscape

Côte d’Ivoire’s entry into the exclusive circle of Africa’s upstream hubs sends a strong signal to markets. Abidjan is now emerging as a key player in the continent’s evolving energy landscape, confirming the country’s strategic repositioning within Africa’s oil and gas sector.