SOCAR has taken a significant step in its global expansion strategy by acquiring a 10% participating interest in the Baleine oil and gas field development project offshore Côte d’Ivoire. The agreement was signed with Italian energy giant Eni S.p.A., marking SOCAR’s official entry into Africa’s rapidly growing energy sector.

Italy's Eni on Saturday started a second phase of oil and gas production at Ivory Coast's offshore Baleine field, the energy group has announced.