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Cote D’Ivoire
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Since 2006, oil and gas production have become more important engines of economic activity than cocoa. According to IMF statistics, earnings from oil and refined products were $1.3 billion in 2006, while cocoa-related revenues were $1 billion during the same period. The country is self sufficient in producing refined petroleum products and is also a major supplier to the West African region.

Côte d’Ivoire is known more as an oil refining country rather than as an oil producing one. While it does not have the prolific offshore oil fields of Nigeria, it does possess a modest upstream oil industry. Côte d'Ivoire's offshore oil and gas production has resulted in substantial crude oil exports and provides sufficient natural gas to fuel electricity exports to Ghana, Togo, Benin, Mali and Burkina Faso. Oil exploration by a number of consortiums of private companies continues offshore, and President GBAGBO has expressed hope that crude output could reach 200,000 barrels per day by the end of 2010. Its recoverable oil reserves have been estimated at 100 million barrels and recoverable gas reserves at 1.1 Tcf. Oil producing fields are Lion and Panthere.

The bulk of the country's oil and gas wells, (86%), are situated in shallow marine areas, with another 7% located in deep offshore wells. Only 7% of the country's oil and gas wells are onshore. Production for 2004 was estimated at 35,541 barrels per day, with crude oil accounting for 35,000 barrels per day. However, recently, finds and new production at several off shore fields and blocks may push the nation's proven reserves and output totals higher.

The downstream sector is an important part of the economy. Côte d’Ivoire has a complex refinery at Abidjan with an adjacent bitumen plant. The state’s interest in both plants has been scheduled for privatization. The refinery receives crude via pipeline from the Lion and Panthere fields. It also receives crude from Nigeria. A major pipeline project from Côte d’Ivoire to Cameroon is being planned.

Although natural gas was initially discovered in Côte d'Ivoire in the 1980s, it has only been recently developed as of January 1, 2005, the country is estimated to have of natural gas reserves of 1 trillion cu ft. In 2003, natural gas output and domestic consumption were each estimated at 46 billion cu ft. The gas reserves discovered in the 1980’s have begun to be developed and utilized. The main producing fields are Panthere, Kudu, Eland, Ibex, Gazelle and Foxtrot. The country is poised to become a regional gas exporter.

Côte d’Ivoire’s oil and gas industry is managed by Petroci. Founded in 1975, Petroci was restructured in 1998 into a holding company, Petroci Holding, with three subsidiaries: Petroci Exploration-Production which handles upstream gas and oil activities; Petroci Gaz, which is responsible for the natural gas sector; and Petroci Industries-Services which manages all other related services. Petroci Holding manages the three subsidiaries as well as the country’s holdings in the gas and oil sectors.

Oil & Gas Companies

  • Petroci: is the national oil company and holds a minority stake in all Côte d’Ivoire’s producing fields and almost all of the country’s licensed blocks.
  • Six major oil companies are involved in marketing products in Côte d’Ivoire as well as the local Petroivoire
  • Addax Petroleum (Côte d’Ivoire Ltd.)
  • Tullow
  • Phillips
  • Pluspetrol
  • United Meridian Corp.

Key Figures

  • Oil production: 60,100 bbl/day(2008)
  • Oil Consumption: 25,000 bbl/day(2008)
  • Oil Exports: 115,700 bbl/day(2007)
  • Oil Imports: 80,960 bbl/day(2007)
  • Oil Proved Reserves: 100 million bbl(2009)
  • Natural Gas Production: 1.3 billion cu m(2008)
  • Natural Gas Consumption: 1.3 billion cu m (2008)
  • Natural Gas Exports: 0 cu m (2008)
  • Natural Gas Imports: 0 cu m (2008)
  • Natural Gas Proved reserves: 28.32 billion cu m(2009)

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