Ivory Coast seeks oil majors as it opens oil & gas licensing round

Ivory Coast wants more explorers for oil and gas as it seeks to boost economic growth, according to Energy Minister Abdourahmane Cissé.

 

The West African nation opened a new licensing round for five offshore blocks which are close to other discoveries and infrastructure, Mr Cissé  said in Abidjan, the commercial hub.

 

The world’s biggest producer of cocoa has proven oil reserves estimated at 100 million barrels and gas reserves of one trillion cubic feet, according to the US Department of Commerce’s International Trade Administration.

 

“We want strong companies, companies who have done things in other countries,” Mr Cissé said.

 

“We want to make sure that in terms of obligation of work that things will go quickly.”

 

Eni SpA and Total SA were awarded exploration licences earlier this year, while agreements for two other blocks are yet to be concluded.

 

“Our policy now is that the terms we agreed works for both parties,” Mr Cissé said. “When we don’t agree, we don’t sign.”

 

Three of the five blocks opened for licensing are newly zoned, bringing the total number in the country to 51 blocks, Mr Cissé said.

 

Four of these are in production and 28 are under exploration.

 

Source: Energy Mix Report