Ivory Coast has ignored its oil and gas sector for decades as the government concentrated on developing agricultural exports. But things have now changed and oil and gas is becoming an increasingly stategic area. The country has been expanding its existing crude oil production, with outputs of almost 60,000 barrels per day.
What is Petroci’s role in the oil industry in Ivory Coast?
As such, Petroci became the cornerstone of the development of the oil industry in Ivory Coast. As of today, Petroci is present in a number of sectors in the Ivorian petroleum industry including: butane gas distribution and petroleum products, development of the gas industry, trading, bunkering and management of oil structures.
How much oil & gas does Ivory Coast have?
Estimates put the field reserves to between 1.5 to 2 billion barrels of oil and about 1.8 to 2.4 trillion cubic feet of gas. Ivory Coast is set to build Africa’s first biomass power plant 100 km east from Abidjan.
Will Ivory Coast import liquefied natural gas?
Ivory Coast is also pushing forward with plans to begin importing liquefied natural gas (LNG) to supplement domestic supply to its gas-fired power plants. SIR was founded in 1962 by the Ivorian government, with the help of international oil companies. In 1965, SIR refinery started its operations.