Le mardi 30 juillet 2024, le Minister of Mines, Petroleum and Energy, Mamadou Sangafowa-Coulibaly, signed production sharing contracts for three oil blocks with the British group Elephant Oil onshore, namely CI-520, CI-521, and CI-522

The contracts signed between Côte d'Ivoire and Elephant Oil are of particular importance for the government, as they concern three onshore oil blocks. The onshore zone, which includes seven oil blocks, is where oil exploration in Côte d'Ivoire began. The minister expressed his satisfaction with this new partnership with Elephant Oil on these onshore oil blocks, which will allow the Ivorian State to relaunch the search for hydrocarbons in this part of the sedimentary basin more effectively. In total, 52.5% of the profits will be donated to the State of Côte d'Ivoire. Of the remaining 47.5%, 80% will go to the operator Elephant Oil, while 20% will be awarded to Petroci, which will thus benefit from a 10% non-paying share and a 10% paid share, giving it a total 20% stake in this consortium