SIREXE 2024 Highlights Ivory Coast’s Rising Role as a Regional Energy Hub

JOHANNESBURG, South Africa (BG) – The African Energy Chamber (AEC) has called on Ivory Coast to strengthen its position as a regional leader in oil and gas investment, emphasizing the country’s potential to shape the future of energy production in West Africa.

In a media release on Monday, the AEC praised Ivory Coast’s progressive energy policies, innovative projects, and partnerships that have spurred its emergence as a hub for oil and gas activity.

The AEC, led by Executive Chairman NJ Ayuk, participated in the SIREXE 2024 conference in Abidjan this week, engaging with global energy companies such as Halliburton, Sahara Group, and SLB. The chamber urged these companies to prioritize expansion and innovation in Ivory Coast’s energy sector.

SIREXE, the International Exhibition of Extractive and Energy Resources, is the first exhibition in Ivory Coast to unite the mining, oil, and energy industries. The event is taking place from Nov. 27 to Dec. 2, 2024.

“Ivory Coast is not just a key player in West Africa’s energy sector; it is a model for what the future of African oil and gas development should look like,” Ayuk said. “With its progressive policies, commitment to local content, and willingness to embrace innovation, Ivory Coast is positioning itself as a beacon of sustainable and inclusive growth.”

Energy Sector Highlights

The Baleine oil field, operated by Eni and Petroci, exemplifies Ivory Coast’s successful development strategy. Currently producing over 22,000 barrels per day, Baleine is Africa’s first net-zero hydrocarbon project, with production expected to increase significantly by the end of 2024.

Another promising discovery, the Calao field, is estimated to hold up to 1.5 billion barrels of oil. This project is projected to generate significant revenue and create approximately 8,000 jobs by 2026.

In addition to ongoing projects, the government has prioritized local content policies to reduce reliance on foreign expertise and build domestic capacity. New partnerships and production-sharing agreements are expected to accelerate exploration and development activities across onshore and offshore blocks.

Diversified Energy Resources

Ivory Coast boasts a diverse energy resource base, including hydropower, petroleum, natural gas, forest reserves, and biomass residues. Efforts to position the country as a regional oil and gas hub extend beyond production.

The Ministry of Mines, Petroleum, and Energy has identified 26 blocks available for leasing and is accelerating certification of reserves in existing blocks. Downstream opportunities are also expanding, with Petroci leading projects in refining and petrochemicals.

Société Ivoirienne de Raffinage (SIR), Ivory Coast’s national refining company, is central to meeting the country’s growing energy demands. SIR’s efforts underscore the importance of downstream development in ensuring long-term energy stability and fostering economic growth.

Driving Regional Leadership

“Ivory Coast’s energy strategy is paving the way for sustainable development while creating opportunities for local industries,” Ayuk said. “This is the type of leadership Africa’s energy sector needs.”

As the country continues to develop its resources and attract international partnerships, its role as a regional energy powerhouse is expected to grow significantly in the coming years.