Global Courant 2023-04-26 20:33:26
Production from Ivory Coast’s highly anticipated oil field, Baleine, is expected in 2023. The consortium is owned by a consortium comprising ENI, an Italian multinational oil and gas company, and Petroci, the Ivorian national oil company. The consortium jointly operates and manages the field for exploration, development, and production of hydrocarbons in the area.
Located near Assouindé, southeast of Abidjan, this important oil field is expected to yield more than 2 billion barrels of crude oil and 2,400 to 3,300 billion cubic feet of natural gas in two phases.
The initial phase, which will start in 2023, will account for 15% of the field’s total production, while the next phase is expected to last 30 years. Recent drilling at Baleine E1X has exposed even larger oil and gas reserves in the adjacent block, bringing total estimated amounts to approximately 2.5 billion barrels of oil and 3,300 billion cubic feet of gas, exceeding previous forecasts by as much as 25% .
According to the Ivorian authorities, a Floating Storage Production and Offloading (FPSO) (https://apo-opa.info/3oPGOde) ship named Baleine departed Dubai for Ivory Coast on April 6 to begin production, eighteen months after its commercial discovery. The ship has a processing capacity of 15,000 barrels of crude oil per day, a storage capacity of 650,000 barrels, an unloading capacity of 520,000 barrels, treatment of produced water 7,600 barrels/day and a draft of 5.5 meters.
Ivory Coast (https://apo-opa.info/3Aw1rxO) Mining, Petroleum and Energy Minister Mamadou Sangafowa Coulibaly traveled to Dubai to observe the tradition of blessing the ship before launching. This is a very old practice that aims to bring good luck to the ship and ensure a safe journey. Before proceeding with the blessing, he emphasized the rapid progress of the Baleine project, which required significant investment in the country, including the drilling of three production wells in the field that are currently nearing completion. In addition, an 80 km hydrocarbon transfer pipeline has been installed and the FPSO has been refurbished to meet operational requirements. Sangafowa Coulibaly encouraged major industry players to explore the vast potential of the Ivory Coast sedimentary basin as he proclaimed that numerous other “Baleines” remain to be discovered in the country. The upcoming MSGBC Oil, Gas & Power 2023 (https://apo-opa.info/3LuqOXg) conference, a prestigious meeting of key stakeholders in the oil and gas sector, provides an opportunity to further explore and invest in Ivory Coast’s burgeoning energy landscape.
Historically, the Ivory Coast has maintained a relatively moderate level of hydrocarbon production, averaging about 30,000 barrels per day. However, with the upcoming exploitation phase of the Baleine field, the country’s crude oil production will increase by 50% in the near term, heralding a transformative shift.
In addition, Côte d’Ivoire will benefit from associated natural gas, which can be used to power its power stations, strengthening the country’s energy security and sustainability. These momentous developments also have the potential to foster regional cooperation as similar offshore projects are underway in the MSGBC basin, particularly in Mauritania and Senegal. The upcoming MSGBC Oil, Gas, and Power (https://apo-opa.info/3LuqOXg) annual event – hosted by Energy Capital & Power – in Nouakchott, Mauritania, taking place November 21-22, provides an unparalleled opportunity for producers, local suppliers and buyers to come together, exchange expertise and create meaningful partnerships in promote the dynamic energy landscape of the region.
Distributed by APO Group on behalf of Energy Capital & Power.
This press release is issued by APO. The content is not checked by the African Business editors and none of the content has been checked or validated by our editors, proofreaders or fact-checkers. The publisher is solely responsible for the content of this announcement.
