#6 - Petroci
February 2017 update
In an effort to boost oil operations in Ivory Coast, the government developed an oil incentive code to allow the National Oil Company (Société Nationale d’Opérations Pétrolières) to ensure the promotion of the Ivorian sedimentary basin since 1975, as well as the development of its oil and gas resources through the exploration of oil and gas deposits in the country. As such, Petroci became the cornerstone of the development of the oil industry in Ivory Coast. In this capacity and in accordance with the context, successive governments have tried to adapt the company to their projects of economic development and to their vision. Thus, in 1997, in order to carry out a successful promotion campaign while maintaining the capacity to carry out the numerous missions assigned to Petroci, the government considered it necessary to break down Petroci into four distinct companies:
• Petroci exploration and production
• Petroci gas
• Petroci service industry
• Petroci holding
Unfortunately, this organization has not been a success. Therefore, it was decided from the year 2000 that Petroci should go back to its original organization.
As of today, Petroci is present in a number of sectors in the Ivorian petroleum industry including: butane gas distribution and petroleum products, development of the gas industry, trading, bunkering and management of oil structures.
Lately, the company has been in difficulty, struck by the fall of the oil prices, just like the rest of its African and international sister companies.