The State Oil Company of Azerbaijan (SOCAR) signed an agreement with Italian company Eni S.p.A. to acquire a 10% interest in a project to develop the Baleine oil and gas field on the shelf of the Ivory Coast.
The agreement was signed on the sidelines of the World Economic Forum Annual Meeting 2026 in Davos.
Baleine is considered one of the largest oil and gas discoveries made in West Africa in recent years. The giant offshore oil and gas field was discovered in 2021, with production commencing in 2023. The field currently produces over 62,000 barrels of oil.
Earlier, SOCAR acquired a 10% stake in Tamar, one of Israel's gas fields.
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