State-owned oil and gas company Petroci expects Ivory Coast to double its oil and gas production by 2020, by attracting foreign investments in offshore exploration. The country is seeking to develop offshore reserves in the Gulf of Guinea and has awarded 20 of around 60 blocks. Ivory Coast aims to reach 200,000 boe/d in production in 2020, around twice the current level.
International companies are already active in Ivory Coast, including Total, ExxonMobil, Anadarko and Tullow Oil; Lukoil withdrew from the country earlier in 2016. Domestic oil production recently grew from around 30,000 bbl/d in 2015 (average) to 53,000 bbl/d, while Natural Resources (Canada) and Foxtrot International (Ivory Coast) have raised gas production from 220 mcf/d in 2013 to 250 mcf/d in 2016 (from 6.2 mcm/d to 7 mcm/d).
Ivory Coast also plans to start importing LNG, to fuel a proposed gas-fired power project. In addition, two gas-fired power plants should enter construction in late 2016 (370 MW Songon power plant near Abidjan) and in 2017 (300 MW Bassam power project) and a FCFA 300bn (US$508m) project to connect the country's power grid with those of Liberia, Guinea and Sierra Leone will start in 2016.