Côte d'Ivoire - Country Commercial Guide
Oil and Gas Field Equipment

This is a best prospect industry sector for this country.  Includes a market overview and trade data.

Last published date: 2021-04-20

Côte d’Ivoire’s ambition to increase its energy exports makes the oil and gas sector, particularly natural gas and liquified natural gas (LNG), a good investment prospect. 

Overview

Côte d’Ivoire is a net regional petroleum importer.  Though the country exports petroleum, it imports crude oil for refinement in local refineries that are configured for the heavier oil produced elsewhere.   It has proven oil reserves estimated at 100 million barrels and gas reserves of 1 trillion cubic feet and has the potential to become a medium-sized offshore oil producer through development of the upstream industry.  The Ivoirian government reports that oil production increased from 32,287 barrels per day in 2018 to approximately 37,179 barrels per day in 2019.  Natural gas production dropped nine percent, from 216 million cubic feet per day in 2018, to approximately 202.5 million cubic feet per day in 2019. 

Upstream development: Steady increases in regional electricity demand have supported growth in the Ivoirian oil sector, but its oil offshore production has yet to take off.  Many blocks have been delineated and are open for negotiation, and investment incentives are offered for exploration in deep and ultra-deep waters. Companies interested in exporting oil and gas production equipment to Côte d’Ivoire should work with relevant Ivoirian authorities (see list below) to understand the related tax breaks available under the Ivoirian investment code.

Downstream development:  Société Ivoirienne de Raffinage (SIR), the only Ivoirian oil refinery, and its associated storage company, GESTOCI, sell refined oil.  The market for petroleum products is not liberalized, so companies seeking to market petroleum in Côte d’Ivoire must do so through SIR and the Ministry of Petroleum, Energy, and Renewable Energy. 

Companies currently involved in the gasoline service station market include Petroci, which has a partnership with Corlay Global, a Panamanian firm that acquired Texaco‘s gas stations and other marketing assets in Côte d‘Ivoire; French company Total; Vivo, a spinoff from Shell; OLA Energy (Oil Libya Africa Energy), and approximately twenty-five local suppliers.   Once the market for these products is fully liberalized, there will be significant opportunities for U.S. companies.

 

2017

2018

2019

Total Local Production (petroleum)

N/A

N/A

N/A

Total Exports (petroleum products)

N/A

1,083

1,204

Total Imports (crude oil, petroleum products)

N/A

2,207

2,159

Imports from the US (equipment for oil and gas exploration)

31.6

26.9

54.3

 

NOTE: All figures are in millions of U.S. dollars; N/A =Not Available;

Source: Ivoirian Ministry of Petroleum, Energy, and Renewable Energy, U.S. Census Bureau, U.S. International Trade Administration

Leading Sub-Sectors

The largest opportunities for gas and oil are currently in exploration and production of petroleum, and related services.

Opportunities

Oil and gas equipment for exploration, drilling, and storage offer opportunities for U.S. companies.  As the country’s thermal power plants run on natural gas and LNG, providing equipment to these sectors offers opportunities for U.S. companies.  As the country looks to expand its use of renewable energies, local power plants – particularly Azito, CIPREL, and Aggreko - are trying to expand their power generation capacities.

Resources

Ministry of Petroleum and Energy 

Côte d’Ivoire’s Investment Promotion Centre (CEPICI)

Côte d’Ivoire Chambre of Commerce and Industry  

Bureau National d‘Etudes et de Développement (BNETD)

Ivoirian Customs Office

U.S. Energy Information Agency

Société Ivoirienne de Raffinage (SIR)

PETROCI

Association of Ivoirian Exporters (APEX-CI)