SOCAR signs deal with Eni on purchasing 10% stake in project on Ivory Coast shelf

BAKU. Jan 22 (Interfax) - The State Oil Company of the Azerbaijani Republic (SOCAR) signed an agreement with Italian company Eni S.p.A. on Thursday to acquire a 10% interest in a project to develop the Baleine oil and gas field on the shelf of the Ivory Coast, SOCAR said in a statement.

"The Agreement was signed between SOCAR President Rovshan Najaf and Eni S.p.A. CEO Claudio Descalzi on the sidelines of the World Economic Forum Annual Meeting 2026," the statement reads.

The implementation of the agreement and the completion of the deal depend on whether the necessary permissions are acquired from regulating bodies and whether other standard conditions are met.