The discovery and exploitation of the massive "Whale" oil and gas field continue to fuel economic debate in Côte d'Ivoire. From Moscow, Dr. Ahoua Don Mello, an economist and specialist in strategic issues, published a pointed press release on Thursday, May 28, 2026. The former minister and presidential candidate openly questions the share of revenue actually allocated to the Ivorian state.

A deposit of exceptional profitability

Discovered in September 2021 by the Italian oil major ENI 70 kilometers off the coast of Abidjan, the Baleine field is the largest discovery in the history of the Ivorian sedimentary basin. The project is progressing rapidly: after the successive launches of phases 1 (August 2023) and 2 (December 2024), phase 3 has just reached a crucial milestone with the Final Investment Decision (FID) formalized on May 25, 2026.

By 2027, production is expected to peak at 150,000 barrels of oil per day and 200 million cubic feet of natural gas .

In his analysis, Ahoua Don Mello highlights staggering figures that demonstrate the immense profitability of this project:

1. Extractable reserves: 2.5 billion barrels of oil and 3,300 billion cubic feet of gas.
2. Gross valuation: Approximately $195 billion (based on a barrel at $70).
3. Total investment: $8 billion.

"For every dollar invested, the potential gross value of the resource is $24," calculates the economist, pointing to an exceptional return on investment for the international consortium led by ENI, Vitol and SOCAR.

A distribution of profits deemed too unequal

This is precisely where Dr. Don Mello's problem lies. According to his data, the current distribution formula disadvantages Côte d'Ivoire in favor of multinational corporations.

Entity	Share of the profits	Estimated annual revenue
Foreign Partners (ENI, Vitol, SOCAR)	77.25%	~ $2.94 billion
PETROCI (Ivorian National Company)	22.75%	~ $866 million

Such a discrepancy is unacceptable to the politician, who believes that the country is missing out on a legitimate financial windfall.

Towards a reform of the Ivorian oil strategy

To reverse the trend and make the Baleine field a true engine of economic and energy sovereignty, Ahoua Don Mello puts forward two major proposals:

1. Change the contractual model: Gradually transition from the current Production Sharing Contract to a Service Contract . This technical shift would allow the Ivorian state to retain ownership of its resource and only pay service fees to operators, thus capturing the majority of the profits.
2. Create a powerful sovereign wealth fund: This financial tool would allow PETROCI to be recapitalized, future investments to be guaranteed and skills to be financed so that Ivorian technicians can eventually take control of the sector.

According to the economist, the Baleine field is a historic opportunity that Côte d'Ivoire must not squander. The country absolutely must strengthen its negotiating power with the oil giants in order to transform its natural resources into concrete development.