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Azerbaijan’s SOCAR bought 10% of Eni’s Côte d’Ivoire offshore project, entering Africa’s energy market.
Azerbaijan’s state energy company SOCAR has acquired a 10% stake in Eni’s Baleine offshore oil and gas project off Côte d’Ivoire, marking SOCAR’s entry into Africa’s energy sector.
The deal, signed at the 2026 World Economic Forum, supports Eni’s strategy to optimize its upstream portfolio through equity divestments while retaining operational control.
The Baleine project, Africa’s first net-zero emissions offshore development, began production in 2023 and currently produces over 62,000 barrels of oil and 75 million cubic feet of gas daily, with Phase 3 expected to boost output to 150,000 barrels of oil and 200 million cubic feet of gas per day.
The transaction remains subject to regulatory approval.
La SOCAR de Azerbaiyán compró el 10% del proyecto offshore de Eni en Costa de Marfil, ingresando así al mercado energético de África.