TotalEnergies has accomplished the sale of its 12.5% non-operated stake in Nigeria’s deepwater Bonga area, marking one other step in its ongoing upstream portfolio rebalancing.
The corporate confirmed that its subsidiary, TotalEnergies EP Nigeria (TEPNG), finalized the divestment of its curiosity within the OML 118 Manufacturing Sharing Contract to current companions Shell Nigeria Exploration and Manufacturing Firm Ltd. (10%) and Nigerian Agip Exploration (2.5%). The aggregated transaction worth is $510 million.
The Bonga area, Nigeria’s first deepwater improvement, stays a core offshore asset operated by Shell. TotalEnergies has been current in Nigeria for greater than six many years and produced 209,000 boed within the nation in 2024 throughout its upstream portfolio. The corporate additionally operates a nationwide downstream community of greater than 540 service stations.
TotalEnergies mentioned it stays dedicated to Nigerian operations and to ongoing engagement with host communities because it continues to streamline its world asset base.
