ExxonMobil eyes two oil blocks off Côte d’Ivoire

XOXOCôte d'Ivoire produces 38,560 bpd, according to data from 2012. (Image source: Exxon Mobil)ExxonMobil has announced that it is in final talks with Côte d’Ivoire to acquire two offshore oil blocks located in the Gulf of Guinea

Ibrahima Diaby, director of hydrocarbons at the Ministry, said, “We expect to finish discussions regarding the two ultra-deepwater oil blocks before the end of 2014 with ExxonMobil.

“A memorandum of understanding (MoU) has been signed for the two ultra-deep oil blocks and negotiations for the production sharing agreements are very advanced,” Diaby added.

A senior official with the country’s Energy Ministry reported that the nation is hoping to unlock and develop its offshore oil and gas reserves, with the aim to reduce its dependence on a single commodity — cocoa — and boost its oil production.

Côte d’Ivoire is also seeking investors for seven new ultra-deepwater blocks. The country has invited ExxonMobil, Total, Eni, Anadarko Petroleum, Tullow Oil and ConocoPhillips to invest in these projects, noted the Ministry.

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