Italy’s Eni has signed a binding agreement to sell a 10% stake in the Baleine offshore oil and gas project in Côte d’Ivoire to SOCAR, the State Oil Company of the Republic of Azerbaijan. The deal reduces Eni’s operating stake to 37.25% while leaving it as project operator. Vitol retains a 30% interest and Côte d’Ivoire’s state oil company Petroci holds 22.75%.
Azerbaijan’s state oil company SOCAR has signed an agreement with Italian Eni S.p.A. to acquire a 10% participating interest in the development project of the Baleine oil and gas field located offshore Côte d’Ivoire, Trend reports via SOCAR.
MOL Group and SOCAR have signed a comprehensive onshore exploration, development and production sharing agreement covering the Shamakhi-Gobustan region of Azerbaijan, strengthening their long-standing upstream partnership in the Caspian region. Under the agreement, MOL Group will serve as operator with a 65% working interest, while SOCAR will hold the remaining 35%. The fully termed deal follows a preliminary […]
A consortium between the State Oil Company of the Azerbaijan Republic (SOCAR) and Saipem SpA has won contracts for a $2.9-billion compression project in the BP PLC-operated Shah Deniz field on Azerbaijan’s side of the Caspian Sea, BP and Saipem said. The compression project will access low-pressure gas and enable the production of an additional […]
Under the agreement, SOCAR will supply gas volumes in phases to gradually reach approximately 1.5 bcm (53 bcf) per year, with deliveries scheduled to begin in 2025. The gas will be transported via pipeline and will support investments in production and infrastructure, such as gas compressors.
SOCAR (State Oil Company of Azerbaijan Republic) and UK oil major BP have signed a memorandum of understanding (MoU) to explore potential collaboration opportunities in international oil and gas upstream projects. The partnership, focused on bolstering global energy security, underscores the companies’ commitment to a reliable and sustainable energy supply.
Eni SPA and the State Oil Company of the Azerbaijan Republic (SOCAR) agreed to cooperate on emission reduction projects in the COP29 host country at the same time pursuing hydrocarbon exploration and production to secure fuel for Europe.