Ivory Coast’s Oil Minister recently announced a significant milestone in the country’s offshore exploration efforts—a production-sharing agreement with ExxonMobil for two ultra-deepwater blocks in the Gulf of Guinea.
The agreement encompasses Ivory Coast’s CI-602 and CI-603 blocks, spanning 3,874 and 5,543 square kilometers, respectively, and featuring depths ranging from 3,000 to 4,000 meters.
Oil and Energy Minister Adama Toungara highlighted that each block has a maximum exploration period of nine years, with a potential contract duration of 25 years in the event of commercial discoveries.
Seeking to attract further investment, Ivory Coast has been promoting seven additional ultra-deepwater blocks, showcasing its potential at a promotional event held in Houston, Texas, in October.
Prime Minister Daniel Kablan Duncan revealed ongoing negotiations with Norway’s AGR Group for a production-sharing agreement concerning the CI-101 and CI-524 blocks.
Additionally, discussions are underway with France’s Total regarding the CI-605 block, further demonstrating Ivory Coast’s commitment to expanding its offshore exploration portfolio through strategic partnerships.
