Ivory Coast’s national oil company PETROCI and Guinea-Conakry’s national oil company SONAP recently signed a Memorandum of Understanding (MoU) in June to collaborate on enhancing oil exploration and production in Guinea. This partnership will leverage PETROCI’s expertise and resources to support Guinea in advancing its oil sector. The MoU covers areas such as support, technical assistance, knowledge exchange, training, and logistical support, highlighting the mutual commitment to boosting Africa’s socio-economic development.
As PETROCI expands its footprint in the region, CEO Fatoumata Sanogo, along with a delegation, is set to participate in the upcoming African Energy Week (AEW): Invest in African Energy 2024 conference in Cape Town from November 4-8. Sanogo will discuss investment opportunities in Ivory Coast’s oil and gas sector, as well as provide updates on projects and developments.
AEW: Invest in African Energy serves as the premier platform for engaging project operators, financiers, technology providers, and government officials in the African energy sector. For more information about this event, visit www.AECWeek.com.
PETROCI is focused on positioning Ivory Coast as a central hub for petroleum products and is actively developing its hydrocarbon resources. The company is working on significant projects like the Baleine oil field development in partnership with major players like Eni and TotalEnergies. PETROCI was recently awarded Production Sharing Contracts (PSC) by the Ivorian government for Blocks CI-523 and CI-525, which include valuable gas fields like Ibex, Gnou, Kudu, and Eland.
The acquisition of these blocks follows the successful exploration by Eni and PETROCI at the Baleine-1X well in 2021, which led to the confirmation of substantial oil and gas reserves. The company’s FPSO Firenze has enabled the commencement of oil and gas production offshore Ivory Coast, with production starting in 2023 through a phased development approach.
Besides oil exploration, PETROCI is leading initiatives to minimize environmental impact. The Baleine project aims to be Africa’s first net-zero upstream oil development in terms of emissions. Additionally, PETROCI is collaborating with partners to accelerate exploration efforts in Ivory Coast and drive socio-economic growth in the region.
At AEW: Invest in African Energy 2024, the PETROCI delegation will showcase the company’s achievements in expanding storage facilities and enhancing transportation routes for petroleum products. This event will provide a key platform for engaging with industry stakeholders and government bodies to strengthen Ivory Coast’s role in Africa’s energy sector.
Distributed by APO Group on behalf of the African Energy Chamber.