PETROCI CEO Fatoumata Sanogo is confirmed to talk at this 12 months’s version of African Power Week (AEW): Spend money on African Energies. As the top of Ivory Coast’s nationwide oil firm, Sanogo performs a central position in shaping the nation’s hydrocarbons technique and driving ahead a brand new section of funding and collaboration throughout the Ivorian power panorama.
Ivory Coast has quickly emerged as one in every of West Africa’s most steady and forward-looking oil and fuel markets. Below Sanogo’s management, PETROCI is just not solely consolidating its place as a key upstream participant, but in addition actively advancing landmark tasks and forging regional partnerships to speed up power growth and financial progress.
A cornerstone of this effort is the Baleine subject, the most important hydrocarbon discovery within the nation’s historical past. Operated by Eni in partnership with PETROCI, the Baleine mission lately entered Part 2 of growth, which is ready to extend manufacturing to 70 million cubic toes of fuel and 60,000 barrels of oil per day. Over the course of three growth phases by means of to 2027, Eni is anticipated to speculate a complete of $10 billion, marking a major long-term dedication to Ivory Coast’s power sector.
In March 2024, Eni introduced one other main offshore fuel and condensate discovery with the Calao subject, estimated to carry between 1 and 1.5 billion barrels of oil equal in potential assets. Appraisal wells might be required to additional assess the discover and decide the optimum growth technique.
As Ivory Coast seems to construct on this momentum, PETROCI is actively in search of new partnerships to fast-track the event of extra oilfields. The corporate lately initiated discussions with Angola’s Sonangol to change technical experience and reinforce South-South cooperation. This strategy displays a broader technique to deepen regional integration, entice funding and speed up mission supply by leveraging shared capabilities and aligning growth timelines.
“Ivory Coast’s power sector is underpinned by robust fundamentals: political stability, a clear regulatory surroundings, aggressive fiscal phrases and a authorities that continues to prioritize long-term funding. The nation represents a real ‘dwelling’ for oil and fuel funding – one which not solely affords low above-ground threat, but in addition excessive returns throughout each mature and frontier acreage,” states NJ Ayuk, Government Chairman of the African Power Chamber.
With over $15 billion in investments anticipated in Ivory Coast’s oil and fuel sector – aiming to succeed in 200,000 barrels of oil per day by 2027 – Sanogo will provide unique perception into PETROCI’s strategic route, rising funding alternatives and the way the corporate is aligning nationwide power growth with regional and international priorities, together with power safety, job creation and sustainable progress.
Distributed by APO Group on behalf of African Power Chamber.
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