new discovery of oil and natural gas in

In Côte d’Ivoire, the Italian oil company ENI has just made another discovery of crude oil and natural gas, off Assinie, in the south-eastern part of the country. The deposit is right next to the first one, discovered last year. It increases Côte d’Ivoire’s reserves by 25% and boosts the ambitions of the Ivorian economy.

as reported from Abidjan, Youn Gourlay

This is another discovery that confirms the potential of the Ivorian coasts. It allows this huge deposit called “Baleine” to go from two billion to 2.5 billion barrels of crude oil and from 2400 to 3300 billion cubic feet of natural gas. The Ivorian state’s share of the profit will be 52% against 48% for the Italian company.

This is enough to boost the growing Ivorian economy a little more, according to economist Yao Seraphin Prao: “These discoveries will strengthen and diversify the basis of the Ivorian economy. Already in 2018, oil brought Côte d’Ivoire 500 billion CFA francs. There we can clearly see that the more oil we discover, the more the treasury will find enough money to trade in. The first barrels are expected in the second quarter of 2023.

For the economist, this deposit could help subsidize the price of petrol, which continues to rise, and better cover the country in electricity: “To move towards the emergence, all the villages must be electrified. However, you know that the electricity grid also depends on oil and natural gas, so I think these discoveries will be good for the Ivorian people.

► Read also: COP26: in Côte d’Ivoire, the exploitation of hydrocarbon reserves is not unanimous

During the first discovery, the opposition and environmental activists welcomed the news, while asking the state not to forget to benefit the populations and continue the development of renewable energy.

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