What the Baleine deal actually changes for Ivory Coast
Ivory Coast’s flagship offshore project has a new partner. On Wednesday, September 16, Eni closed the sale of a 10% interest in the Baleine oil and gas field to Azerbaijan’s state energy company SOCAR. The move reshapes the ownership map of the country’s most-watched hydrocarbon venture. After the transaction, Eni retains 37.25%, Vitol holds 30%, Petroci controls 22.75% and SOCAR now sits at 10%.
The agreement between the two companies was first signed on January 22, 2026, but the transfer only became final once regulatory approvals and standard conditions were satisfied. That completion date is what turns a signed contract into a real change of hands.
Why this deal matters beyond the numbers
For SOCAR, this is a first step into Africa’s upstream oil and gas sector. The Baleine field gives the Azerbaijani firm a foothold in a region where several national oil companies are competing for stakes in new discoveries. For Ivory Coast, the entry of an additional international player signals continued confidence in a field that has quickly become the centrepiece of the country’s offshore ambitions.
Production today and tomorrow
Baleine is already flowing. Its first two phases together produce more than 57,000 barrels of oil per day and over 78 million cubic feet of gas per day. A planned third phase is expected to lift output to 150,000 barrels of oil and 200 million cubic feet of gas daily.
That jump would represent a near-tripling of oil volumes and a substantial increase in gas supply. Eni has described the field as its first development in Ivory Coast and the country’s leading offshore project.
From discovery to a producing asset
The field was discovered in 2021 and began producing in 2023. Eni has been active in Ivory Coast since 2015, and Baleine has become the clearest illustration of its long-term commitment there.
With the ownership now settled, attention turns to execution: delivering phase three on schedule and converting the field’s potential into tangible revenue, energy supply and industrial activity for the country.
