Oil Exploration: Ivorian Government Signs Eight Production Sharing Contracts with Brazilian Giant PETROBRAS

Abidjan, September 17, 2026 – The State of Côte d'Ivoire and PETROBRAS, Brazil's national flagship energy company and a major player in the global oil industry, signed eight Production Sharing Contracts (PSCs) on Thursday, September 17, 2026, at the Sofitel Abidjan Hôtel Ivoire, covering blocks located in the western portion of the nation's sedimentary basin.

Representing the Ivorian State were Mamadou Sangafowa-Coulibaly, Minister of Mines, Petroleum, and Energy, and Adama Coulibaly, Minister of Economy, Finance, and Budget. The contractors were represented by Fatoumata Sanogo, Managing Director of PETROCI Holding, and Sylvia Maria Couto Dos Anjos, Chief Executive Officer of PETROBRAS.

According to Mamadou Sangafowa-Coulibaly, PETROBRAS's commitment is particularly significant, involving an initial investment of over 250 billion FCFA for acquiring state-of-the-art seismic data and conducting at least eight ultra-deepwater exploratory drillings.

Regarding production sharing—set at 62.5% for Côte d'Ivoire and 37.5% for PETROBRAS—it was designed to maintain a balance between compensating the investor's risk and protecting State interests, the Minister specified. For further updates on national economic developments, visit In Côte d'Ivoire.

"Eight PSCs signed in a single day with the same operator is a first in the history of our sedimentary basin. Beyond the number of blocks and the scale of investment, what matters most is that we are writing a new chapter in cooperation between Côte d'Ivoire and Brazil," stated Mamadou Sangafowa-Coulibaly.

With these eight contracts, the Minister explained, the occupancy rate of the national sedimentary basin has reached 75%, representing approximately 63,000 square kilometers covered by production, evaluation, and exploration activities: "We are moving closer to our target of progressively bringing this rate to 100%."

For the Minister of Economy, Finance, and Budget, signing these eight PSCs opens a new chapter in economic and diplomatic relations between both nations.

"For Côte d'Ivoire, this confirms its status as a premier destination for oil and gas exploration capital in West Africa, directly in line with government reforms to enhance our petroleum code and secure the business environment. For Brazil, it offers an opportunity to expand its international footprint through a balanced partnership that respects local content and creates shared value, particularly in skills transfer, qualified jobs, and developing the national hydrocarbon value chain," he emphasized.

Sylvia Maria Couto Dos Anjos, head of the Brazilian delegation, affirmed that this agreement marks the start of a long-term partnership: "Exploration requires a long-term vision. It means expanding knowledge, understanding geological potential, and creating future opportunities."

She added that PETROBRAS's 70-year experience enables the company to operate 4.9 million barrels of oil equivalent per day across its global portfolio. Read more Côte d'Ivoire news on our platform.