Wedoany.com Report-Jun 6, Petrobras, Brazil’s state-owned energy firm, has submitted a declaration of interest for offshore exploration blocks in Côte d’Ivoire, on Africa’s west coast, to expand its global operations. The Côte d’Ivoire Council of Ministers approved Petrobras’ interest in nine blocks, initiating the process for contractual negotiations.

The declaration secures Petrobras’ exclusive negotiation rights, aligning with its strategy to bolster oil and gas reserves through exploration in new regions. CEO Magda Chambriard noted: “The geographic location of Ivory Coast, on the African Atlantic coast, is of great interest to Petrobras. We have a lot of experience in this region, on this side of the Atlantic, where the Campos and Santos basins are located, and I believe that we can also achieve important results on the other side of the ocean.”

In January 2025, Côte d’Ivoire introduced its National Energy Compact, seeking $6.56 billion in investments, with $2 billion from private investors, to advance sustainable energy access. Recent oil and gas discoveries and investor-friendly reforms have drawn interest from global energy firms, including Petrobras, BP, and Vitol.

As a new entrant, Petrobras plans to analyze data from four offshore blocks and explore partnerships with PETROCI, Côte d’Ivoire’s state oil company. BP, re-entering after a decade, is studying the Ivorian sedimentary basin to identify exploration blocks. Vitol is pursuing offshore exploration through consortia to discover new oil deposits. Vaalco Energy, which entered the market in March 2025, is eyeing four additional blocks, while Murphy Oil, with five blocks and proven gas reserves, aims to start drilling by late 2025.

A floating production, storage, and offloading vessel, managed by Canadian Natural Resources International, will leave a Côte d’Ivoire deepwater field for upgrades in the UAE to extend its service life. These efforts underscore Côte d’Ivoire’s rising role in the global energy sector, supported by international investment and collaboration.