Eni has signed a binding agreement with Socar, the state oil company of Azerbaijan, for the sale of a 10% stake in the Baleine Project in Ivory Coast.

This is the main offshore development in Ivory Coast, operated by Eni (47.25%) and joined by Vitol (30%) and Petroci (22.75%), according to a statement.

The transaction is in line with the group's strategy to optimize its upstream portfolio by accelerating the value realization of exploration discoveries through the reduction of holdings (dual exploration model).

(Claudia Cristoferi, editing by Gianluca Semeraro)