Murphy Oil takes stake in oil and gas blocks in Côte d’Ivoire

Côte d’Ivoire

YAMOUSSOUKRO, June 23, 2023 – Murphy Oil Corporation has signed five PSCs for offshore blocks in Côte d’Ivoire, the government announced on Monday.

Under the deals, the US independent will take stake in blocks CI-102, CI-103, CI-502, CI-531 and CI-709.

Apart from the CI-102 concession, all are deepwater blocks.

Murphy Oil Corporation is partnered with local state-run energy player Société Nationale d’Opérations Pétrolières de la Côte d’Ivoire on all concessions in a 90:10 split respectively, save CI-103 in which the US entity holds an 85% stake with the remaining 15% stake held by its partner.

The CI-103 block contains the Paon field that was discovered by Anadarko Petroleum in 2016.

The signing was performed on June 14, 2023.

Interest in upstream plays in Côte d’Ivoire has risen since the Baleine field was discovered in 2021.

The Eni-operated play is the largest oil and gas find in the country with estimated resources of 2.5 billion barrels and 93.5 bmc (3.3 tcf) of associated gas.

In June 2023, Baker Hughes signed a contract with Eni to provide subsea trees for the Baleine development project.