Standard Chartered acted as sole financial advisor to Eni for the sale to SOCAR of a 10% stake in the Baleine Project in Côte d’Ivoire

11 February 2026, London, UK – Standard Chartered has acted as sole financial advisor to Eni S.p.A. (Eni) for the sale of its 10% participating interest in the Baleine Project (Baleine) in Côte d’Ivoire to the State Oil Company of the Azerbaijan Republic (SOCAR). Baleine is Eni’s first development in Côte d’Ivoire and supports the market’s domestic energy needs.

The transaction, which is expected to close subject to appropriate regulatory approvals and other customary terms and conditions, further consolidates Standard Chartered’s position as #1 M&A Advisor in Energy and Infrastructure across Africa, Asia and Middle East with 11 deals announced and/or closed between 1 January 2025 to 31 December 2025¹.

Eni is a global integrated energy company which produces hydrocarbons and supplies natural gas, bio-feedstock and crude oil, with presence in 64 countries. The company is listed on the Milan Stock Exchange with a market capitalisation of EUR 50 bn as of 22 January 2026. The transaction is in line with Eni’s satellite strategy, aimed at optimising upstream activities, through a geographical re-focusing of its portfolio combined with early monetisation of exploration discoveries through a strategic partnerships model.

Rajesh Singhi, Global Head, Clean Technology & Environment, Diversified Industries, Oil & Gas and Chemicals M&A, Standard Chartered added: “This transaction highlights the role of strategic partnerships in portfolio management within the energy sector. We congratulate ENI and SOCAR on reaching this agreement and are pleased to support our clients on cross-border transactions that require sector expertise and understanding of the long-term dynamics shaping global energy markets.”

Standard Chartered provides global M&A advisory services with offices across Africa, Australia, Europe, Middle East, America, North Asia, South Asia and Southeast Asia, with proven track record in emerging and developed markets, supporting clients on sell-side and buy-side M&A transactions. The Bank has advised on M&A deals in Infrastructure, Oil & Gas and Chemicals, Clean Technology & Environment, Metals & Mining, Financial Services, Industrials, Consumer, and other sectors.

¹Source: Mergermarket league table based on deals announced between 1 January 2025 and 31 December 2025 in the ‘Utility & Energy’ and ‘Oil & Gas’ sectors; targeting Africa, Asia (ex. Japan, Australasia), Middle East (ex. Israel), and excluding deals with both Target & Acquirer in China.

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For further information please contact:

Julien Moity
Communications Director, Europe
Standard Chartered
julien.moity@sc.com

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