Cote d’IvoireTargets Production Increase

The oil markets may see close to 170,000 bpd added over the next five years if Cote d’Ivoire has its ambitions realized. The country said it hopes to see its production rise from its current level of about 32,000 bpd to around 200,000 bpd. The government is betting on recent discoveries and ongoing exploration activities to meet that target.

Discoveries were made by the partnership of Lukoil and PanAtlantic (formerly Vanco) on Block CI-401 in late-2011 and a discovery made by Tullow Oil and Anadarko Petroleum when they drilled the Paon-1 well in H1 2012 on Block CI-103

“With these discoveries and the projected investments, Ivory Coast will be able to realize its target of raising output from around 32,000 bpd now to around 200,000 bpd in the five years ahead,” Ibrahima Diaby, head of hydrocarbons at the Ministry of Mines, Petroleum and Energy told Reuters in an interview.

He said PanAtlantic and Tullow were planning further drilling on their discoveries in 2013 and 2014 to clarify reserves.

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