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African Energy Chamber (AEC) Urges Ivory Coast to Continue Being a Home of Oil & Gas (O&G) Investment

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Ivory Coast is emerging as a key oil and gas player in West Africa, with major projects like Baleine and strong partnerships driving growth and boosting production capacity

JOHANNESBURG, South Africa, December 2, 2024/APO Group/ — 

Ivory Coast is emerging as a powerhouse in West Africa’s oil and gas industry, driven by a solid regulatory framework, attractive fiscal terms and innovative partnerships. Home to significant hydrocarbon reserves and progressive policies, the country has drawn investments from leading energy companies, cementing its status as a regional hub for energy production and exploration. The African Energy Chamber (AEC) (www.EnergyChamber.org) applauds Ivory Coast’s efforts in creating an environment where oil companies can thrive.  

This week, the AEC is participating at the SIREXE 2024 conference in Abidjan. Led by Executive Chairman NJ Ayuk, the chamber engaged with global service companies such as Halliburton, Africa Global Logistics, Sahara Group and SLB, encouraging them to prioritize expansion and innovation. The AEC is committed to supporting Ivory Coast’s initiatives to reduce energy poverty, promote local content, and foster economic development. As the country continues to expand its role in the regional oil and gas sector, the AEC emphasizes the importance of ensuring that the energy transition includes oil. It is essential that industry stakeholders advocate for a just transition that recognizes the ongoing importance of oil in Africa’s energy future while transitioning to more sustainable energy sources. 

Ivory Coast’s strong policies have laid the foundation for oil companies to drive large-scale projects. Notably, the Baleine field, spearheaded by Eni and the nation’s national oil company Petroci, is a prime example of what is possible when innovation meets efficient governance. The field currently produces over 22,000 barrels per day (bpd) and is set to scale significantly. As Africa’s first net-zero (Scope 1 and 2) hydrocarbon project, the project is advancing with the arrival of critical infrastructure – the Petrojarl Kong FPSO and Yamoussoukro FSO – set to boost production to 60,000 bpd and add 70 million cubic feet of gas by the end of 2024. The project features the continent’s first-ever net-zero FPSO. This sustainable approach is what the continent needs. Companies such as Eni are using low-carbon solutions to not only operate but prioritize decarbonization. This is what sets them apart. Petroci’s partnership in this project underscores its pivotal role in driving Ivory Coast’s energy ambitions. 

Ivory Coast is not just a key player in West Africa’s energy sector; it is a model for what the future of African oil and gas development should look like

In addition to the Baleine field, Eni made a significant discovery in March 2024 in Block C1-205 – known as the Calao find – which is estimated to hold up to 1.5 billion barrels of oil. This discovery is expected to generate substantial revenues and create over 8,000 jobs. Ivory Coast plans to begin exploiting the Calao field by 2026, strengthening the country’s energy security and economic growth.  

Amid project advancements, Ivory Coast is also strengthening its local content policies. The government has recently approved in principle the National Upstream Local Content Policy, which seeks to reduce dependency on foreign expertise by building domestic capacity. The policy is currently undergoing consultations across all regions, reflecting the country’s commitment to fostering economic sovereignty and strengthening its energy sector. As the voice of the African energy sector, the AEC commends the efforts by the government to advance local content policy, emphasizing the need for oil operators to increase local hiring, training and contracting.  

The country is also strengthening its position through international partnerships. In August 2024, Ivory Coast’s Ministry of Mines, Petroleum and Energy signed production sharing agreements (PSAs) with Eni for four offshore blocks, promising an $80 million investment in exploration over three years. Similarly, onshore exploration has seen a boost with PSAs signed between the Ministry and Elephant Oil for three blocks, further diversifying Ivory Coast’s energy portfolio and unlocking onshore hydrocarbon potential. 

Exploration campaigns have revealed substantial deposits across the country and key international partnerships continue to advance Ivory Coast’s oil and gas sector. In March 2024, Vaalco Energy acquired a 27.39% stake in the Baobab field through its purchase of Svenska Petroleum Exploration, valued at $66.5 million. The Baobab field, located offshore Ivory Coast, is expected to add substantial capacity to Vaalco’s operations. Similarly, in November 2023, Ice Oil & Gas signed a PSA with Petroci for offshore block CI-705, furthering exploration in the Grand Lahou area with a commitment to invest $40 million in the next seven years. Further strengthening its energy footprint, Murphy Oil signed production-sharing contracts for five blocks in Ivory Coast in June 2023, spanning both shallow and deepwater areas. The company’s activities include developing the Paon deep-water gas and light oil field in block CI-103 and evaluating potential from previous drilling in blocks CI-531 and CI-709. 

Ivory Coast’s efforts to position itself as a regional oil and gas hub extend beyond production. The Ministry has identified 26 blocks available for leasing and is accelerating certification of reserves in existing blocks. Downstream opportunities also abound, with Petroci spearheading projects in refining and petrochemicals. Notably, Société Ivoirienne de Raffinage (SIR), Ivory Coast’s national refining company, is playing a central role in meeting the country’s growing energy demands, underlining the importance of downstream development in supporting long-term energy stability and economic growth. 

“Ivory Coast is not just a key player in West Africa’s energy sector; it is a model for what the future of African oil and gas development should look like. With its progressive policies, commitment to local content and willingness to embrace innovation, Ivory Coast is positioning itself as a beacon of sustainable and inclusive growth,” said Ayuk. “It is crucial to continue building on these partnerships, invest in infrastructure and ensure that growth benefits the country and the broader African continent.” 

Distributed by APO Group on behalf of African Energy Chamber.

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Sierra Leone Set to Showcase Offshore Ambitions with Petroleum Directorate of Sierra Leone (PDSL) Joining African Energy Week (AEW) 2026 as Strategic Partner

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Sierra Leone is advancing offshore exploration, preparing a new licensing round and finalizing the formation of a new national oil company ahead of its Strategic Partnership with AEW 2026

CAPE TOWN, South Africa, March 26, 2026/APO Group/ –The Petroleum Directorate of Sierra Leone (PDSL) has joined African Energy Week (AEW) 2026 – scheduled to take place in Cape Town from October 12–16 – as a Strategic Partner. The Directorate will be positioned to leverage the event to highlight its open acreage, competitive fiscal framework and upstream integration plans to international investors, signaling Sierra Leone’s emergence as a frontier exploration hotspot in the MSGBC basin and across the wider Gulf of Guinea.

 

Italian energy major Eni and other international players have engaged in detailed geological studies across Sierra Leone’s offshore basin, underscoring rising confidence in the country’s hydrocarbon potential. Backed by enhanced 3D seismic reprocessing and basin-wide prospectivity studies, the PDSL is accelerating data-led de-risking efforts to unlock prospects such as Vega and attract fresh upstream capital.

 

A central focus for investors is the anticipated resumption of offshore drilling in 2026 – the country’s first campaign in nearly a decade. Following the conclusion of its fifth licensing round, which offered 56 offshore blocks, Sierra Leone is preparing to drill new wells targeting an estimated multi-billion-barrel resource base, supported by improved subsurface imaging and strengthened regulatory oversight.

 

PDSL’s participation at AEW 2026 reflects Sierra Leone’s serious commitment to unlocking its offshore potential through transparency, strong fiscal terms and data-driven de-risking

Sierra Leone is also in the final stages of establishing its first state-owned national oil company, which will hold a mandatory 10% carried interest in all exploration licenses. The government is targeting an overall 25–30% participation in projects, balancing national value capture with competitive terms for international operators.

 

Downstream integration is also gathering pace, with the 105–126 MW Nant gas-to-power plant in Freetown, developed by Anergi Group and TCQ Power, expected to nearly double national generation capacity when it comes online in 2027. In parallel, PDSL is spearheading plans for Sierra Leone’s first refinery to reduce reliance on roughly 15,000 barrels per day of imported refined products.

 

“PDSL’s participation at AEW 2026 reflects Sierra Leone’s serious commitment to unlocking its offshore potential through transparency, strong fiscal terms and data-driven de-risking,” said NJ Ayuk, Executive Chairman, African Energy Chamber, adding, “Their strategic vision aligns with Africa’s broader push for energy security, industrialization and investor partnership.”

 

With drilling set to resume, a national oil company nearing launch and integrated gas-to-power and refining projects advancing, Sierra Leone is entering a defining phase. At AEW 2026, PDSL is expected to present a clear message: the basin is open, the data is ready, and the opportunity is real.

Distributed by APO Group on behalf of African Energy Chamber.

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Critical Mineral Projects to Watch Ahead of Invest in African Energy (IAE) 2026

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The Uganda Chamber of Energy and Minerals, with both its CEO and governing council chairperson confirmed for Paris, will serve as the primary interface for investors seeking access to Uganda’s licensing framework and project pipeline

CAPE TOWN, South Africa, March 26, 2026/APO Group/ –Governments from West, Central and Southern Africa, with delegations confirmed for the Invest in African Energy (IAE) Forum in Paris next month, are each advancing critical mineral projects that span processing deals, development-stage assets and frontier exploration plays, giving investors a range of entry points across the minerals value chain.

Nigeria – Alumina Refinery & Lithium Processing

Nigeria struck a $1.3 billion deal with the Africa Finance Corporation in early March covering three components: construction of a one-million-ton-per-year alumina refinery, a national geoscience mapping program, and a joint investment vehicle to accelerate exploration and production across priority leases. Projected at 95% utilization over 20 years, the refinery is expected to add $1.2 billion to GDP annually and generate approximately $8 billion in foreign exchange earnings over its lifespan.

Separately, a $600 million lithium processing plant in Nasarawa State is at the commissioning stage, backed by ongoing mapping of lithium-bearing pegmatite belts across Kwara, Ekiti and Kaduna states. New mining licenses now require a local processing commitment covering at least 30% of output before export, a condition that directly shapes the investment structures available to foreign partners. Nigeria’s energy minister is among the confirmed delegations at IAE in Paris.

Zambia – Copperbelt Expansion & Cobalt Refinery

 

Copper output in Zambia is on course to clear one million tons in 2026, supported by First Quantum Minerals’ completed $1.25 billion S3 plant expansion at Kansanshi and Barrick Gold’s $2 billion program to double output at Lumwana by 2028. Several additional projects, including Sinomine’s Kitumba Mine and KoBold Metals’ Mingomba deposit, are also coming online this year, making Zambia one of the few places globally adding significant incremental copper supply in the near term.

Africa’s first cobalt sulfate refinery is targeting commissioning in Zambia in 2026, adding downstream processing capacity alongside the copper ramp-up. The Lobito Corridor, backed by a $553 million US Development Finance Corporation loan for Angola’s Benguela rail link, reduces export costs across the Copperbelt and improves project bankability for both mines and processing facilities seeking long-term offtake commitments.

Senegal – Falémé Integrated Iron Project

Senegal’s Falémé iron district in the Kédougou region holds over 600 million tons of probable reserves, including oxide ore at around 59% iron content and primary magnetite at roughly 45% Fe. The government launched the Falémé Integrated Iron Project as a phased program targeting 15 to 25 million tons per year at peak output, with national iron ore company MIFERSO conducting ongoing reserve verification.

The mineral export port at Bargny is operational and rail rehabilitation linking Kédougou to the coast is progressing under the Emerging Senegal Plan. The project is actively seeking a technical development partner. With port and rail infrastructure advancing independent of any single mining operator, Falémé carries lower logistics risk than comparable iron ore projects requiring greenfield corridor construction, which affects how financiers assess project bankability and timelines to first revenue.

Equatorial Guinea – Rio Muni Mineral Exploration

Equatorial Guinea’s Rio Muni mainland offers early-stage exposure to gold, bauxite, base metals, coltan and iron ore across largely underexplored onshore territory. The Ministry of Mines and Hydrocarbons has been opening the sector since its first public tender in 2019, with exploration contracts now in place and state geological mapping advancing in partnership with Rosgeo. Minister Antonio Oburu Ondo will address investors at IAE, with the minerals program expected to feature in bilateral meetings.

Uganda – Rare Earths & Minerals Sector Opening

Uganda holds rare earth deposits in ionic adsorption clay formations — a deposit type the IEA has flagged for low capital intensity relative to hard rock alternatives — alongside gold mineralization across greenstone belts in the West Nile, Karamoja and Mubende regions. The Uganda Chamber of Energy and Minerals, with both its CEO and governing council chairperson confirmed for Paris, will serve as the primary interface for investors seeking access to Uganda’s licensing framework and project pipeline, at the same time as the country’s Tilenga and Kingfisher oil developments move toward first oil.

Distributed by APO Group on behalf of Energy Capital & Power.

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APO Group Takes Gold at 2026 SABRE Awards – Second Consecutive Win Across Different Clients and Sectors

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Recognition spans technology, global sport, and culture, reflecting APO Group’s cross-sector communications performance across Africa

JOHANNESBURG, South Africa, March 26, 2026/APO Group/ –APO Group (www.APO-opa.com), the pan-African communications consultancy integrating advisory, execution, and proprietary news distribution, has won gold in the Northern Africa category at the 2026 Africa SABRE Awards for its campaign, GITEX Africa Morocco 2025: A Media-Fuelled Journey for Tech Excellence.

 

Delivered for GITEX Africa, the campaign generated more than 3,600 media clippings across African and global outlets, positioning the event as the continent’s leading technology and startup platform, while reinforcing Morocco’s emerging status as a regional technology hub.

Being honoured at the SABRE Awards is particularly meaningful because it reflects the impact of communication designed specifically for how African markets work

APO Group was a finalist in two additional categories for campaigns delivered for international organisations operating across Africa:

  • The Africa Flag 2025 Tournament: Raising the Game in Cairo – National Football League (Media Relations category)
  • Broadcasting Greatness: Elevating African Hoops and Culture at BAL 2025 – Basketball Africa League (BAL) (Media, Arts & Entertainment category)

The SABRE Awards recognise excellence in branding, reputation management, and engagement across the global communications industry. This latest accolade adds to APO Group’s growing record at these prestigious awards, following its win in 2025 for a campaign delivered for Canon Central and North Africa, as well as multiple finalist placements for campaigns supporting leading institutions such as GITEX Africa, Africa’s Business Heroes, and the Global Africa Business Initiative.

 

“Being honoured at the SABRE Awards is particularly meaningful because it reflects the impact of communication designed specifically for how African markets work,” said Bas Wijne, Chief Executive Officer at APO Group. “Successful pan-African campaigns combine strategic planning and strong local execution, together with a clear understanding of how different markets, media environments, and audiences connect with a story. It’s about designing communications that deliver measurable outcomes and help organisations engage effectively and confidently across Africa’s diverse media landscape.”

In addition to its SABRE Awards success, APO Group has received multiple major industry honours over the past year, including Gold and Bronze at the Davos Communications Awards for excellence in strategic communications and campaign execution. The company was also named Africa’s Leading PR Agency – 2025 by Brands Review Magazine and Best Public Relations & Media Consultancy Agency of the Year – 2025 by World Business Outlook.Operating across 54 African countries, APO Group provides communications advisory services, public relations, and media distribution through its proprietary newswire, Africa Newsroom, which places content on more than 250 Africa-focused news platforms worldwide.

Distributed by APO Group on behalf of APO Group.

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