Eni to divest 10% stake in Baleine Project to Azerbaijan’s SOCAR

Eni has entered into a definitive agreement to sell a 10% stake in the producing offshore Baleine Project in Côte d’Ivoire to the State Oil Company of the Republic of Azerbaijan (SOCAR). The financial terms of the deal were not disclosed by the Italian energy company. The Baleine Project is currently operated by Eni, holding a 47.25% interest, alongside partners Vitol (30%) and Petroci (22.75%). The transaction forms part of Eni's strategy to optimise its upstream portfolio by divesting exploration dis ...