Oil & Natural Gas
Cote d’Ivoire intends to position itself as the main sub-regional oil hub. At the end of 2022, the Ivorian sedimentary basin had fifty (50) blocks. including nine (09) under exploration, four (04) in production, one (01) awaiting development, ten (10) under negotiation and twenty-six (26) available for future exploration.
As part of the development of the sector, several reforms have been carried out, in particular the revision of the petroleum code through Ordinance No 2012-369 of 18 April 2012 amending Law No 96-669 of August 29, 1996. This revised code. which provides for more flexibility, is an effective tool to attract more investment in the sector.
The main crude oil and natural gas blocks in production within Cote d’Ivoire are : CI-11 (Lion and Panther fields), CI-26 (Espoir field), CI-27 (Foxtrot, Mahi, Marlin and Manta fields) and CI-40 (Baobab field).
Crude oil production
Cote d’Ivoire's crude oil production at the end of December 2022 is 9.300.556 barrels, or 25.481 barrels per day. This production is up 6.01% compared to the results obtained during the same period in 2021 due to the increase in production on blocks CI-11 (+50.71%), CI-26 (+22.25%). CI-27 (+13.44%) mainly related to better well management and better availability of production facilities.
It's worth noting that a substantial proportion of the crude oil production is earmarked for export. In 2021, exports constituted a significant 91.28% of the total production volume.
Production in barrels of crude oil from 2015 to 2022
|
Block |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
|
CI-11 |
185 221 |
141 937 |
195 641 |
111 520 |
170 496 |
152 174 |
106 959 |
161 194 |
|
IC-26 |
5 148 986 |
4 609 039 |
3 398 882 |
3 107 408 |
2 793 656 |
2 242 385 |
1 613 597 |
1 972 562 |
|
IC-27 |
415 409 |
829 270 |
894 787 |
599 128 |
590 926 |
605 950 |
540 120 |
612 694 |
|
IC-40 |
4 985 527 |
9 846 649 |
7 951 194 |
7 966 586 |
9 639 055 |
7 641 883 |
6 512 587 |
6 554 106 |
|
TOTAL |
10 735 143 |
15 426 895 |
12 440 504 |
11 784 642 |
13 194 133 |
10 642 392 |
8 773 263 |
9 300 556 |
|
Variation |
55.55% |
43.70% |
-19.36% |
-5.27% |
11.96% |
-19.34% |
-17.56% |
6.01% |
Source: Ministry of Mines, Petroleum and Energy. DGH Yearbook 2022
Natural gas production
In 2022, natural gas production reached 90,320,092 MMBTU, with a daily average of 247,452 MMBTU. This represents a 2% annual average increase from 2015 to 2022. Compared to 2021, production has surged by 7.76%, primarily attributed to increased sales in blocks Cl-26, Cl-40, CI-27
Natural gas production by block from 2015 to 2022
|
Blocks |
Fields |
Production (million MMBTU) |
|||||||
|
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
||
|
CI-11 |
Lion and Panther |
5.48 |
3.92 |
7.58 |
3.82 |
5.73 |
6.7 |
5.77 |
3.92 |
|
IC-26 |
Hope |
15.92 |
15.33 |
11.69 |
13.77 |
11.69 |
9.45 |
6.52 |
7.24 |
|
IC-27 |
Foxtrot. Mahi. Marlin and Manta |
56.11 |
60.72 |
54.13 |
48.10 |
52.52 |
60.23 |
70.78 |
78.29 |
|
IC-40 |
Baobab |
1.08 |
4.66 |
2.68 |
3.39 |
3.85 |
0 |
0.74 |
0.86 |
|
Total |
78.60 |
84.63 |
76.09 |
69.09 |
73.79 |
76.37 |
83.814 |
90.320 |
|
|
Change (%) |
4.37% |
7.68% |
-10.10% |
-9.19% |
6.80% |
3.49% |
9.75% |
7.76% |
|
Source: Ministry of Mines, Petroleum and Energy. DGH Yearbook 2021
Prospects
The sector's outlook is driven by phases 1 and 2 of the development of the Baleine field which was discovered in September 2021. The estimated reserves of the Baleine field are 2.5 billion barrels of crude oil and 3.300 billion cubic feet of natural gas, following a second discovery in July 2022, confirming the extension of the said deposit into block CI-802 adjacent to block CI-101. To date, Baleine's proven reserves, from Phase 1, are estimated at 35.4 MMBBLS (barrels of crude oil) and 58 BCF (billion cubic feet) of natural gas.
In addition, significant investments are underway across the various oil fields to increase production and transport capacities :
- Intensifying block promotion campaigns and exploration activities for the discovery of new crude oil and natural gas reserves;
- The development of the CI-27 field;
- The 4th phase of the Espoir field (CI-26) for the exploitation of the KOSSIPO deposit;
- The 5th phase of the BAOBAB field (CI-40);
Thus, under the effect of the development of the different phases of the Whale field and investments in the other fields :
- domestic crude oil production is expected to triple between 2022 and 2027 from 25481 barrels/day in 2022 to 76539 barrels/day in 2027; natural gas growth is expected to increase by about 11% from 247.452 MMSCF/d in 2022 to 274.000 MMSCF/d in 2027, thus ensuring a sufficient supply of natural gas to cover domestic needs;
- crude oil production from the Baleine field would increase from 4537 barrels/day in 2023 to 12000 barrels/day in 2024 and is expected to reach the peak of 42.000 from 2025. Thus, the field would represent on average more than 52% of oil production over the period.