Côte d’Ivoire strengthens state role in oil production with new PETROCI subsidiary

Côte d’Ivoire is strengthening the role of its national oil company in the production of hydrocarbons with the creation of PETROCI CI-26, a subsidiary set up to operate the Espoir oil field on block CI-26.

The government approved the creation of the new company at a Council of Ministers meeting on Sept. 9. Fully owned by PETROCI Holding, PETROCI CI-26 has been tasked with taking over and operating the block after the expiration of the previous operator’s authorization.

PETROCI Holding officially took control of operations at the Espoir field on July 24, following the transfer of the block’s assets from Canadian operator CNR. The new subsidiary is headed by Mabintou Tatiana Cissé and was created specifically to manage and operate the asset.

The move gives Côte d’Ivoire a more direct operational role in one of its established oil-producing assets, as the country seeks to strengthen national technical capabilities and increase the value captured locally from its hydrocarbon resources.

The creation of PETROCI CI-26 also comes as Côte d’Ivoire seeks to expand its oil and gas industry. The country has attracted increased attention from international energy companies following recent offshore discoveries, while the government has sought to develop local expertise and strengthen the capacity of national companies.

For PETROCI, the takeover of CI-26 represents a shift from participation in oil projects to a more direct role in their operation. The company has said the new subsidiary aims to ensure safe and controlled operations, improve production performance and strengthen governance around the field.

The development could therefore mark an important step in Côte d’Ivoire’s efforts to build greater national capacity across the oil and gas value chain, while maintaining partnerships with international energy companies.