Ivory Coast Seeks More Than $10 Billion In Energy Investment By 2030

Ivory Coast is seeking more than $10 billion in energy investment by 2030 to expand production, refining, storage and distribution and strengthen supplies to regional markets, Karim Coulibaly, Deputy Managing Director of state-owned Petroci Holding, said on Wednesday.

Speaking at an investment panel at African Energy Week 2026 in Cape Town, South Africa, Coulibaly said the country wanted partners that could provide financing and technical expertise across the energy value chain.

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

Upstream opportunities include the Calao and Calao South developments, farm-in opportunities in blocks CI-523 and CI-525, and an opportunity to become operator of block CI-26.

Petroci is also seeking investment in pipelines, liquefied natural gas facilities, gas processing, power generation, liquefied petroleum gas storage and distribution, industrial gas supply and integrated logistics.

The Baleine field remains central to the country’s production growth. 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 production of 150,000 barrels of oil per day and 200 million cubic feet of gas per day.

Jean Michel, Managing Partner and Chief Executive of KeysFinance Partners, said investment opportunities extended beyond resource development to the infrastructure and services needed to bring projects into operation.

“We have a number of opportunities across the entire value chain, including exploration, development, construction, operations, maintenance and logistics,” he said.

Petroleum storage and distribution projects are intended to strengthen domestic supplies and expand cross-border trade.

State-owned Gestoci, which manages national petroleum reserves and fuel storage infrastructure, is developing depot projects with capacities of 40,000 cubic metres in Odienné and San Pedro, alongside rehabilitation of the Bouaké depot.

The projects form part of a strategy to decentralise storage capacity and improve access to inland and neighbouring markets.

“These projects will increase supply to our neighbors while delivering shorter supply routes and lower logistics costs across the region,” said André Noël Koné, commercial coordinator at Gestoci.

“We aim to strengthen supply security and position Ivory Coast as a regional petroleum logistics hub.”

A proposed second refinery in San Pedro, with a planned capacity of 170,000 barrels per day and an estimated cost of $5 billion to $7 billion, would expand the country’s refining capacity.

Existing refiner Société Ivoirienne de Raffinage (SIR) is also prioritising capacity expansion, fuel quality and environmental performance, said Myriam Kouame, its director of commercial and economic affairs.

“We strive to deliver cleaner fuels while supporting growth and increasing local value,” she said.

Olivia Eti, a policy officer at the Ministry of Mines, Petroleum and Energy, said the investment drive reflected the government’s broader economic ambitions.

“Our government has an ambition to make mining resources and energy a firm pillar of the country’s economy,” she said.