Murphy Oil Strikes New Offshore Oil Discovery in Ivory Coast

Murphy Oil Corporation has announced an oil discovery at the Bubale-1X exploration well in Block C1-709 offshore Ivory Coast, further strengthening the country's position as one of West Africa’s most active exploration markets.

The discovery was made as part of Murphy Oil’s ongoing three-well exploration campaign in partnership with Société Nationale d’Opérations Pétrolières de la Côte d’Ivoire (PETROCI). According to the company, the Bubale-1X well encountered approximately 100 feet of net oil pay across two reservoirs after reaching a total depth of 20,548 feet.

The company plans to proceed with appraisal activities, including an additional evaluation well in the second half of 2026 to determine the size and commercial viability of the discovery.

Discovery supports Ivory Coast’s production growth ambitions

The latest find comes as Ivory Coast seeks to significantly increase oil and gas production over the next decade.

The government is targeting crude oil output of 500,000 barrels per day and natural gas production of one billion cubic feet per day by 2035. It also aims to raise the contribution of the energy and mining sectors to gross domestic product from 7 per cent in 2022 to 14 per cent by 2035.

Authorities are further pursuing plans to establish a sovereign wealth fund by 2030 to maximise long-term value from the country’s natural resource revenues.

The Bubale-1X discovery adds to a series of recent upstream developments that have increased investor interest in Ivory Coast’s offshore sector.

Major projects such as Eni’s Baleine and Calao developments, alongside planned drilling campaigns by VAALCO Energy, CNR International and Petrobras, have reinforced confidence in the country's offshore potential.

The African Energy Chamber (AEC) said the discovery reflects the effectiveness of Ivory Coast’s exploration-led strategy and stable investment framework, which continue to attract international capital and support new resource discoveries.

AEC Executive Chairman NJ Ayuk said every new discovery strengthens energy security, creates jobs, generates government revenue and reinforces the country's standing as a leading exploration destination in Africa.

The Chamber added that continued exploration activity will remain critical to supporting long-term production growth, investment inflows and regional energy security.