The conference room of the Ministry of Mines, Petroleum and Energy hosted on Monday, November 23, 2023, a signing ceremony of the production sharing contract for Block CI 705, located off the coast of Fresco, between the company State Petroci Holding and Ivory Coast Exploration (ICE) Oil and Gas.
The Minister of Mines, Oil and Energy, Mamadou Sangafowa-Coulibaly welcomed this signature which is the manifestation of the vision of the President of the Republic, Alassane Ouattara, on the contribution of extractive industries to inclusive growth. . This, through the valorization and promotion of local content.
"Today's signing has a unique character, in the sense that it is the first time that we have signed with an Ivorian company composed of national experts. It is for me the opportunity to recall the vision of the President of the Republic on the contribution of extractive industries to inclusive growth,” explained Minister Mamadou Sangafowa-Coulibaly.
For the Minister of Mines, Energy and Oil, this signature must serve as a precedent.
“We are going to review the oil code and the mining code. We are going to apply the law on local content. And ensure that those who have national expertise come together with those who have the capital at the national level in order to make national champions. For me, there must be no discrimination. We will create the conditions so that any national who has the expertise can prosper", Mamadou Sangafowa-Coulibaly was very clear.
The contract signed today covers an operating period of 7 years.
The president of the ICE Oil and Gas company, Jacques Ayekoue N'Da, said he was happy with the opportunity to sign a production sharing contract with the government and thus participate in oil research as a private Ivorian group. “Thank you to President Alassane Ouattara, who decided to open the oil sector to Ivorians,” he said.
The implementation of this contract will require an investment of approximately 23 billion CFA francs over 7 years. The contract provides for a shared profit with 53% for the State and 47% for national investors.
ICE Oil and Gas is a simplified joint stock company under Ivorian law created in 2022, based in Abidjan. It is owned by Ivorians, experts in the oil and gas sector and operates mainly in the hydrocarbons and energy sectors.
