Côte d’Ivoire: PETROCI Mobilizes 200 Billion FCFA to Secure New Investments in the Baleine Field

Côte d’Ivoire continues to strengthen its position on the regional energy landscape. With the recent oil discovery announced in February 2026, the country confirms the strategic potential of its sedimentary basin and reinforces its ambition to become a major hydrocarbon producer in West Africa. In this favorable context, PETROCI Holding, the national oil company, has reached a decisive milestone by mobilizing 200 billion FCFA to support the development of the project.

On April 9, 2026, at PETROCI Holding’s headquarters in Abidjan, a signing ceremony was held for a major structured financing agreement involving several leading financial institutions: Ecobank, Banque Nationale d’Investissement (BNI), BNI Finances, Coris Bank International, and Bank of Africa (BOA). This large-scale financial operation reflects both PETROCI’s credibility in financial markets and the renewed confidence of the banking sector in the economic viability of the Baleine project.

Financial engineering serving a structuring project

The mobilization of these 200 billion FCFA will primarily secure the operational implementation of Phase 2 of the Baleine project, while laying the groundwork for the launch of Phase 3. It is part of an integrated planning approach, essential for an energy project of this scale, which is both capital-intensive and technologically demanding.

By partnering with several national and pan-African banks, PETROCI has adopted a diversified financial structure, reducing risks and ensuring greater resilience in financing. For banking partners, this commitment sends a strong signal: the Baleine project is no longer just a geological promise, but an industrial reality set to generate sustainable economic flows.

Banking confidence reflecting PETROCI’s strength

During the ceremony, partner financial institutions praised PETROCI’s strategic vision and the quality of its governance. They reaffirmed their commitment to supporting the public company in implementing structuring projects for the Ivorian economy, particularly in the energy sector, which is considered a key driver of growth and economic sovereignty.

This confidence is grounded not only in PETROCI’s financial performance but also in the clarity of its roadmap. By positioning itself as both an investment catalyst and a key player in the oil value chain, the national holding company is strengthening its strategic role alongside the Ivorian State.

Baleine, a catalyst for Côte d’Ivoire’s energy momentum

Initially discovered in September 2021, the Baleine field has now emerged as one of the flagship projects of Côte d’Ivoire’s oil sector. The announcement in February 2026 of a new discovery, CALAO South in block CI-501, has renewed investor interest and strengthened medium-term production prospects. These results confirm the still largely untapped potential of the country’s offshore resources.

Beyond expected production volumes, the Baleine project holds major strategic importance: it contributes to improving the country’s energy trade balance, generating additional revenue for the State, and supporting the growth of public revenues.

The 200 billion FCFA fundraising thus appears as the logical and symbolic culmination of a sequence marked by the recent oil discovery of February 2026. It reflects the transition from a phase of geological confirmation to one of industrial and financial acceleration. For PETROCI, this is not only about capitalizing on the success of Baleine, but also about firmly positioning Côte d’Ivoire among the circle of producing countries capable of independently managing large-scale energy projects.