Ivory Coast is seeking more than $10 billion in energy investment by 2030, targeting upstream oil and gas development, exploration, gas infrastructure, refining and petroleum logistics as it looks to increase production and strengthen its position as a regional energy hub.

Karim Coulibaly, deputy managing director of state-owned Petroci Holding, outlined the investment opportunities at the Invest in Ivory Coast: Unlocking the Next Wave of Upstream and Investment panel during African Energy Week 2026 on October 14. He said the country was seeking partners with the financing and technical expertise to advance projects across the energy value chain.

“Our country offers proven resources, growing demand, access to regional markets and a national partner committed to delivery,” Coulibaly said.

Upstream opportunities include the Calao and Calao South developments, farm-in opportunities in blocks CI-523 and CI-525, and an operatorship opportunity in block CI-26. Petroci is also seeking investment in pipelines, liquefied natural gas (LNG) facilities, gas processing, power generation, liquefied petroleum gas (LPG) storage and distribution, and gas-to-industry projects.

The Baleine field remains central to the country's production expansion strategy. Operated by Eni alongside Petroci and Vitol, the project's third phase received final investment approval in May 2026. The planned $4 billion development targets peak output of 150,000 barrels of oil per day and 200 million cubic feet of gas daily.

Jean Michel, managing partner and CEO of KeysFinance Partners, said investment opportunities extend beyond resource development to construction, operations, maintenance, logistics and supporting services.

Downstream infrastructure is another priority. Gestoci, the state-owned company responsible for petroleum reserves and fuel storage infrastructure, is advancing 40,000-cubic-metre depot projects in Odienné and San Pedro, alongside rehabilitation of the Bouaké depot. The projects aim to decentralize storage capacity, improve domestic supply and facilitate exports to neighboring countries.

“These projects will increase supply to our neighbors while delivering shorter supply routes and lower logistics costs across the region,” said André Noël Koné, Gestoci's commercial coordinator. He added that the strategy aims to strengthen supply security and establish Ivory Coast as a regional petroleum logistics hub.

Refining also presents significant investment potential. A proposed second refinery in San Pedro would have a planned capacity of 170,000 barrels per day and require an estimated $5 billion to $7 billion in investment, substantially expanding national processing capacity.

Existing refiner Société Ivoirienne de Raffinage (SIR) is meanwhile prioritizing processing capacity, fuel quality and environmental performance. Myriam Kouame, the company's director of commercial and economic affairs, said its growth strategy focuses on standards, meeting demand and addressing climate transition requirements while delivering cleaner fuels and increasing local value.

Olivia Eti, a policy officer in the Office of the Ministry of Mines, Petroleum and Energy, said the investment drive supports the government's broader ambition to make mining and energy key pillars of the national economy.

The proposed investments are expected to support production growth, strengthen energy security, expand regional trade and create opportunities for international investors and local industry. -OGN/TradeArabia News Service