Tullow acquires 4 more oil blocks in Côte d’Ivoire

By Sam Edem

The crude oil multinational and currently the leading player in Ghana’s oil & gas sector -Tullow, is set to expand its operations in the neighboring Côte d’Ivoire.

It follows the completion of a 90% acquisition deal between Tullow and Côte d’Ivoire’s government which now holds 10% stakes through its national oil company – Petroci of four onshore oil blocks in the country.

The four blocks include, CI 518, CI519, CI301 and CI302  and covers about 5,035 square kilometers – particularly, along the coastlines of Côte d’Ivoire that extends all through the western part of its capital city - Abidjan.

The newly acquired blocks are expected to complement Tullow Group’s existing exploration portfolio in the French country as well as consolidate on the Group’s determination to remain profitable in its Western African operations during the shutdown of some its vessels in Ghana.

Over the last twenty years, Tullow has worked in Côte d’Ivoire as an explorer as well as a producer. It currently holds a non-operated position in the Espoir field which contributes about 4,000 barrels of crude oil per day to Tullow’s production stream.