Standard Chartered has acted as sole financial adviser to Eni S.p.A. for the sale of its 10 per cent participating interest in the Baleine Project in Côte d’Ivoire to the State Oil Company of the Azerbaijan Republic (SOCAR).
The project, widely known as Baleine, is Eni’s first development in Côte d’Ivoire and supports the market’s domestic energy needs.
The deal, subject to appropriate regulatory approvals and other customary terms and conditions, further consolidates Standard Chartered’s position as the leading mergers and acquisitions adviser in energy and infrastructure across Africa, Asia and Middle East with 11 deals announced or closed between January 1, 2025 to December 31, 2025.
The transaction was in line with Eni’s satellite strategy towards optimising upstream activities, through a geographical re-focusing of its portfolio combined with early monetisation of exploration discoveries through a strategic partnerships model.
Standard Chartered’s Global Head, Clean Technology & Environment, Diversified Industries, Oil & Gas and Chemicals M&A, Rajesh Singhi, said given Eni’s stature as a global integrated energy company which produces hydrocarbons and supplies natural gas, bio-feedstock and crude oil and presence in 64 countries, Standard Chartered’s role in the transaction was a demonstration of the bank’s futuristic and value-addition credentials across multiple regions.
“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,” Singhi said.
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.
