The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Italy’s Eni S.p.A. to acquire a 10% participating interest in the development project of the Baleine oil and gas field located in Côte d’Ivoire, SOCAR reported.
The agreement was signed by SOCAR President Rovshan Najaf and Eni S.p.A. Chief Executive Officer Claudio Descalzi on the sidelines of the annual World Economic Forum meeting in Davos.
“This transaction marks SOCAR’s entry into Africa’s vast oil and gas resources and aligns with the company’s global expansion strategy. In addition, the deal is part of broader strategic cooperation between SOCAR and Eni S.p.A. across various segments of the energy industry. Implementation of this agreement and completion of the transaction will be possible after obtaining the necessary approvals from the relevant regulatory authorities, as well as fulfilling other standard terms and conditions,” SOCAR said in a statement.
