Investors are keenly studying C\u00f4te d\u2019Ivoire\u2019s economy rebounds and its newly found oil reserves give it the potential to become a top regional producer. <\/p>\n\n\n\n
C\u00f4te d\u2019Ivoire well poised to benefit from surging global energy needs <\/p>\n\n\n\n
Organisers of the annual Africa Oil Week conference expect C\u00f4te d\u2019Ivoire to be a major area of focus when African and global leaders in the oil and gas sector converge. <\/p>\n\n\n\n
According to the market intelligence firm, Welligence, which focuses on the oil and gas sector, C\u00f4te d\u2019Ivoire\u2019s recent discovery is significant in terms of size and commercial opportunities. <\/p>\n\n\n\n
Welligence reports that the Italian energy major, Eni, estimates the deep-water find in Baleine \u201cholds 1.5-2 bnbbl of light oil-in-place and 1.8-2.4 Tcf of gas\u201d. <\/p>\n\n\n\n
\u201cThe new play could reinvigorate interest in C\u00f4te d\u2019Ivoire\u2019s Tano Basin. Eni is fast-tracking the development and may sanction Baleine Phase 1 before the end of 2022. This will be C\u00f4te d\u2019Ivoire\u2019s first major project in decades. <\/p>\n\n\n\n
Associated gas production will be piped onshore, where the country has one of the most established gas-to-power markets in the region\u201d states Welligence. <\/p>\n\n\n\n
Organisers of the annual Africa Oil Week (AOW) conference expect C\u00f4te d\u2019Ivoire to be a major area of focus when African and global leaders in the oil and gas sector converge in Cape Town from October 3rd \u2013 7th 2022. <\/p>\n\n\n\n
\u201cAfrica is the new energy frontier, offering a wide mix of energy solutions which could provide long term relief. <\/p>\n\n\n\n
“This reality is likely to spark increased investment and exploration in coming years, and C\u00f4te d\u2019Ivoire is well positioned to benefit\u201d say the organisers. <\/p>\n\n\n\n
States Welligence, \u201cEni has been successful in creating value from its exploration efforts across Africa. Given the scale of the Baleine development and the company\u2019s 90% stake, we expect the Italian Major will look to reduce its exposure. But the significant capital outlay and entry costs will limit the pool of potential new entrants\u201d. <\/p>\n\n\n\n
In addition, the country is experiencing an economic boost with the International Monetary Fund projecting GDP growth at 6.5% in 2022 and 6.4% in 2023. At the same time the ratings agency Fitch upgraded the country\u2019s long-term foreign currency issuer default rating from BB to B+ with a stable outlook. <\/p>\n\n\n\n
\u201cWe look forward to hosting delegates from C\u00f4te d\u2019Ivoire and assisting the country partner with leading stakeholders in the sector. Interest in Africa\u2019s energy potential is at an all-time high\u201d says AOW, the leading energy conference in Africa. <\/p>\n\n\n
\n <\/div>\n","protected":false},"excerpt":{"rendered":"
Investors are keenly studying C\u00f4te d\u2019Ivoire\u2019s economy rebounds and its newly found oil reserves give it the potential to become a top regional producer. C\u00f4te d\u2019Ivoire well poised to benefit from surging global energy needs Organisers of the annual Africa Oil Week conference expect C\u00f4te d\u2019Ivoire to be a major area of focus […]<\/p>\n","protected":false},"author":3,"featured_media":1747,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[908],"tags":[1060],"class_list":["post-41970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oil-gas","tag-cote-divoire","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\n
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