Eni completes sale of 10% stake to SOCAR in Cote d'Ivoire's Baleine project
Italy, Sept. 16 -- Eni announces the completion of the sale of a 10% stake in the Baleine project in Cote d'Ivoire to SOCAR. The Baleine project is the country's main offshore development and is now owned by Eni (37.25%), Vitol (30%), Socar (10%) and Petroci (22.75%).The transaction aligns with Eni's strategy of optimising its upstream portfolio by accelerating the monetization of exploration discoveries through the divestment of equity stakes, a model known as the "dual exploration model."Eni has been present in Cote d'Ivoire since 2015. Baleine is Eni's first development in the country, and the first net-zero development in Africa. The giant Baleine field was discovered in 2021, two decades after the last commercial discovery in the count...
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