Ivory Coast Details Investment Opportunities, Seeks Partners for $10B Energy Expansion

Ivory Coast is seeking more than $10 billion in energy investment by 2030, with the country’s state-owned Petroci Holding identifying new upstream developments, exploration acreage and gas infrastructure as priorities for incoming partners. The investment drive covers refining, petroleum storage and distribution, positioning the country to expand production and supply regional markets.

Karim Coulibaly, Deputy Managing Director of Petroci, outlined the opportunities during the Invest in Ivory Coast: Unlocking the Next Wave of Upstream and Investment panel at African Energy Week 2026 on October 14. He said the country was seeking partners able to contribute 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. We welcome partners that bring capital and expertise and will connect them to industries our region needs,” 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 pipeline infrastructure, LNG facilities, gas processing, power generation, LPG storage and distribution, gas-to-industry partnerships, 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 daily.

Jean Michel, Managing Partner and CEO of KeysFinance Partners, said the investment proposition extends beyond resource development to the infrastructure and services needed to bring projects into operation.

“Our country is a grounded market where international expertise and local capabilities create competitive advantages. We have a number of opportunities across the entire value chain, including exploration, development, construction, operations, maintenance and logistics,” Michel said.

Petroleum storage and distribution projects are intended to strengthen domestic supply and expand cross-border trade. Ivory Coast’s state-owned Gestoci – responsible for managing national petroleum reserves and fuel storage infrastructure – is advancing 40,000-m3 depot projects in Odienné and San Pedro, alongside rehabilitation of the Bouaké depot, supporting a wider strategy to decentralize storage capacity and improve access to inland and neighboring 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.”

Refining is another major investment opportunity. A proposed second refinery in San Pedro, with a planned capacity of 170,000 barrels per day and estimated investment of $5 billion to $7 billion, would significantly expand national processing capacity. Existing refiner Société Ivoirienne de Raffinage (SIR) is also prioritizing capacity, fuel quality and environmental performance.

“The three priorities that are poised to shape SIR’s next growth cycle include quality and standards, capacity and demand, and transition and climate,” said Myriam Kouame, Director of Commercial and Economic Affairs at SIR. “We strive to deliver cleaner fuels while supporting growth and increasing local value.”

Olivia Eti, Policy Officer within the Office of the Ministry of Mines, Petroleum and Energy, linked the investment drive to the government’s wider economic strategy. “Our government has an ambition to make mining resources and energy a firm pillar of the country’s economy,” she said.