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Issue 260 - 09 August 2013

West African Gas Pipeline expansion

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The Economic Community of West African States (Ecowas) has invited expressions of interest from consultants for a feasibility study for the expansion of the West African Gas Pipeline. An extension to Côte d’Ivoire had been mooted before the country’s civil conflict, and prime minister Daniel Kablan Duncan said on 29 July that a pipeline running between Lagos and Abidjan would enable more private power producers to improve energy supply in neighbouring countries. Côte d’Ivoire is already supplying power to Burkina Faso, Mali, Ghana Benin and Togo via the West African Power Pool, and will also supply Liberia, Sierra Leone and Guinea once interconnection infrastructure is completed.

Nigeria | Côte d'Ivoire
Issue 259 - 26 July 2013

Côte d’Ivoire: New block for CNR

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Canadian Natural Resources (CNR) signed a production-sharing contract in June to operate the CI-12 Block offshore Grand-Lahou with a 60% stake. On its other Ivorian acreage, the company is working on the phase three development of the Espoir field, which will involve five production wells and three water injectors, adding a net 6,500 boe/d at a cost of $177m net to CNR, which has 58.7%.

Côte d'Ivoire
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Aggreko has doubled the capacity of its power plant in Abidjan with the addition of a second 100MW of generating capacity, bringing the total to 200MW. The Aggreko power plant in the Vridi area has been in operation since 2010, when the first 70MW was installed. This was increased by 30MW in 2011. Load shedding is presently limited to peak demand periods, but this is mostly due to transmission and distribution network constraints.

Côte d'Ivoire
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The World Bank has agreed a partial risk guarantee (PRG) worth $60m to support the planned expansion of the Block CI-27 gas field. The PRG will support Côte d’Ivoire’s guarantee obligations for the gas payments, a gas supply and purchase agreement between the government and the CI-27 joint venture partners, Foxtrot International, Bouygues subsidiary Seci, Suez subsidiary Enerci and state oil company Petroci. The project involves upgrading the Foxtrot platform to maintain the availability of clean natural gas for lower cost power generation.

Côte d'Ivoire
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Lukoil has expanded its Ivorian acreage by acquiring a 65% stake in Block CI-504 from Nigeria’s Taleveras Energy. The 399km2 block is located immediately north and east of Lukoil’s CI-205 and south of the producing Baobab field, in water depths ranging from 800 to 2,100 metres.

Côte d'Ivoire
Issue 255 - 31 May 2013

Côte d’Ivoire: EITI compliant

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The Extractive Industries Transparency Initiative (EITI) designated Côte d’Ivoire an EITI compliant country on 22 May. The EITI board commended the improved quality of the country’s 2011 EITI report compared to its previous report – all companies reported their payments, showing the government received over $393m in taxes, fees and royalties from the oil, gas and mining sectors in 2011. Oil and gas revenue increased from $220m in 2010 to almost $300m in 2011, with extractive industries contributing 10% of overall fiscal revenue in 2011, up from 6% the previous year. Côte d’Ivoire underwent its first EITI validation in late 2010 but did not reach compliance.

Côte d'Ivoire
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Rialto Energy has agreed terms with Vitol E&P to work together to develop Rialto’s interests in Côte d’Ivoire and Ghana. Subject to approvals, Vitol will acquire a 20% interest in Rialto Energy (Ghana) Ltd in exchange for providing a facility to cover Rialto’s $7.7m obligations for the drilling of the Starfish-1 exploration well in the Accra Block, which operator Ophir Energy intends to spud in June 2013. Vitol will also acquire 65% of the shares in Rialto Energy (Côte d’Ivoire) Ltd in exchange for providing $50m of capital to be invested in a work programme for Block CI-202.

Ghana | Côte d'Ivoire
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Total has announced an oil discovery with the Ivoire-1X exploration well in block CI-100 close to the disputed maritime border with Ghana. The well was drilled to a total depth of 5,044 metres and encountered 28 metres of net oil pay in a series of about 100 metres of Cretaceous reservoirs. Ivoire-1X is Total’s first well in the block and reveals that the Tano Basin petroleum system extends into CI-100.

Côte d'Ivoire
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Construction has begun on the 139MW expansion of the Azito gas power plant near Abidjan, UK power company Globeleq announced on 21 March. The conversion of the Azito plant from simple-cycle to combined-cycle will bring total capacity to 430MW, increasing electricity production without additional use of gas (AE 246/8). Construction is expected to be completed in early 2015.

Côte d'Ivoire
Issue 247 - 31 January 2013

Côte d’Ivoire: SIR financing

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Société Ivoirienne de Raffinage (SIR) has signed an agreement for a $120m structured financing to enable the Abidjan refiner to import crude supplies. The financing, signed on 15 January, was led by Banque Atlantique-Côte d’Ivoire, along with Chaabi International Bank, a subsidiary of Morocco’s Banque Centrale Populaire.

Côte d'Ivoire
Issue 247 - 31 January 2013

Côte d’Ivoire: Miga backing for Azito

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The World Bank’s Multilateral Investment Guarantee Agency (Miga) has pledged its support for the planned expansion of the Azito thermal power plant in Abidjan. The conversion of the existing Azito plant from simple-cycle to combined-cycle will bring total capacity to 430MW, increasing electricity production without additional use of gas.

Côte d'Ivoire
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The African Development Bank Group is expected to “receive the green light from our governors at our annual summit in Marrakesh in May” to return to its headquarters in Côte d’Ivoire after a decade in which the exiled multilateral has “enjoyed Tunisian hospitality”, AfDB president Donald Kaberuka said.

Tunisia | Côte d'Ivoire
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The African Development Bank announced on 20 December that its board had approved a $50m senior loan to Azito Energie for the 139MW expansion of the Azito gas-fired power plant. The loan will contribute to financing the Azito Phase III project.

Côte d'Ivoire
Subscriber

Export-Import Bank of China has signed a $500m soft loan agreement with the government to finance construction of the long-mooted 275MW Soubré hydropower project. Chinese ambassador Zhang Guoqing told reporters the loan was the biggest agreed between China and Côte d’Ivoire in over 30 years.

Côte d'Ivoire
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CNR International has given FMC Technologies an order for subsea equipment for its planned development of the Baobab oil field on Block CI-40.

Côte d'Ivoire