In 2016, Côte d’Ivoire has produced 15,425,895 barrels, representing an average daily production of 42,147 barrels per day.
In 2019, oil production increased by 12% to reach 36,000 barrels per day. In 2021, oil production, which declined by 16% following the COVID-19 pandemic, stood at 24,000
barrels per day.
To stimulate its oil production, Côte d’Ivoire adopted a new oil code; it plans to achieve the country’s ambitions to become one of the largest producers on the African continent.
Côte d’Ivoire has 51 identified fields, including 4 in production, 26 in exploration and 21 in negotiation. (Source the World).
Côte d’Ivoire aims to become an oil producer from 2023 and wants to increase its level of oil production from the current 29,000 barrels per day to 150,000 barrels.
Despite uncompetitive production in recent years, the Ivorian oil, gas and energy sector represents enormous potential for investors, particularly thanks to deposits in the interior of the country and in the coastal zone.
Projects in need of investment include:
The construction and maintenance of service stations.
Construction of oil docks.
Construction of butane gas filling centers
The construction of depots, spheres and reservoirs of petroleum products.
Pipeline construction to supply industrial areas with natural gas.
Gold
The mining sector really took off with the surge of the President of the Republic Alassane Ouattara. For the development of this sector, he revised the Mining Code to make it more attractive to foreign investors. The Ivory Coast has diamonds, iron, nickel, manganese, bauxite and copper.
To date, foreign companies are exploiting Ivorian gold in seven mines, and these are in the process of building two new mining sites.
Gold production is now constantly increasing and has been able to generate 140.585 billion CFA francs in tax revenue in 2021.
Côte d’Ivoire has set itself the challenge of developing its mining sector and increasing the share of this industry in GDP to 6% by 2025.
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