The State Oil Company of the Azerbaijan Republic (SOCAR) has completed the acquisition of a 10% stake in the Baleine oil and gas development project in Côte d’Ivoire from Italian energy giant Eni S.p.A.

The deal has reshaped the project’s ownership structure. Eni now holds 37.25%, Vitol 30%, Petroci 22.75% and SOCAR 10%, according to SOCAR.

The acquisition gives SOCAR access to the upstream sector in Africa and supports the company’s long-term strategy of expanding its international upstream operations.

The Baleine field, discovered in 2021, is considered one of the largest oil and gas discoveries in West Africa. Production began in 2023.

The project is also notable for its environmental profile, as Baleine is described as Africa’s first offshore oil and gas project designed to operate with zero emissions.