The Ivory Coast expects to triple its oil output by 2027, boosted by recent oil discoveries at offshore Baleine and Calao fields, according to Reuters.
The announcement was made by Ivory Coast’s President Alassane Ouattara during a joint session of parliament on June 18 who added that the country expects oil output to rise from 60,000 barrels per day (bpd) in 2024 to approximately 200,000 bpd by 2027.
This output increase is set to make Ivory Coast one of the ten largest oil producers in Africa.
Investments in the development of oil and gas fields in Ivory Coast are expected to amount to $15 billion over the next three years.
In March, oil and gas supermajor Eni announced the discovery of between 1 billion and 1.5 billion barrels of oil and up to 2.4 trillion cubic feet of associated gas at the Calao field, offshore Ivory Coast.
Meanwhile, in 2021, Eni discovered approximately 2.5 billion barrels of oil and 3.3 trillion cubic feet of natural gas at the Baleine field. The company plans to invest $10 billion to develop the offshore field in three phases between 2023 and 2027.
