Block CI 27 Expansion Program

This summary covers an existing equity and shareholder loan by SCDM Energie of France and a non-shareholder loan from HSBC of the United Kingdom and a syndicate of commercial banks for the CI 27 gas field in Côte d’Ivoire. The investors have applied for MIGA guarantees of up to $600 million for a period of up to 12 years against the risks of transfer restriction, expropriation, war and civil disturbance, and breach of contract.

The project consists of the construction and operation of Block CI-27 on/offshore oil and gas facilities including an existing production platform (Foxtrot), gas transportation and onshore facilities, and a greenfield platform (Marlin).

Environmental Categorization

The project is a category A under MIGA’s Policy on Social and Environmental Sustainability. Click here to view the Environmental and Social Review Summary.

Development Impact

The Block CI 27 expansion project aims to meet the country’s growing energy demand. Côte d’Ivoire’s energy sector has suffered from a lack of investment during the last 10 years, as the country struggled with civil conflict. Now that situation is improving, a significant increase in energy investment is necessary to meet the population’s needs and support further development.

Tapping Côte d’Ivoire’s gas resources will reduce the country’s energy costs and limit the use of foreign reserves for energy imports.

The project is aligned with the World Bank Group’s Country Assistance Strategy for Côte d’Ivoire, which stresses the critical importance of building energy capacity to sustain economic progress.

MIGA’s proposed support for this investment is also aligned with the agency’s strategy of supporting investments into the world’s poorest countries, countries affected by conflict, and complex infrastructure projects.