TotalEnergies closes $800M Nigeria oil divestment, retains key gas assets (TTE:NYSE)

TotalEnergies closes $800M Nigeria oil divestment, retains key gas assets (TTE:NYSE)

TotalEnergies completes $800 million Nigeria asset divestment while retaining key gas license interests tied to 50% of LNG supply.

Vaaris Buys 10% Stake in Nigerian Oil Licences from TotalEnergies for $800m

By Adedapo Adesanya Vaaris has acquired a 10 per cent non-operated interest in oil licences held by Nigeria’s Renaissance joint venture from French energy giant TotalEnergies for $800 million, concluding a transaction that was first attempted with another buyer in 2024. The deal was completed by TotalEnergies EP Nigeria (TEPNG), a subsidiary of TotalEnergies, which […]

TotalEnergies Completes $800m Divestment Deal In Nigeria

TotalEnergies says its subsidiary TotalEnergies EP Nigeria has completed the divestment of its 10 per cent non-operated interest in the Renaissance JV licenses to Vaaris for an aggregate amount of US$ 800 million. TotalEnergies, however retains full economic interest in the three gas licenses of the Renaissance JV (OML 23, OML 28 and OML 77), […]

TotalEnergies, Eni Divest from Nigeria Onshore Oil Assets in $800m Deal

Nigeria’s onshore oil sector suffered another major shake-up on Monday as French energy giant TotalEnergies and Italian oil major Eni completed separate deals to divest their interests in the Renaissance Joint Venture, formerly Shell Petroleum Development Company, SPDC, deepening retreat of International Oil Companies, IOCs, from Niger Delta onshore assets. TotalEnergies sold its 10 per […]

TotalEnergies Completes $800m Sale Of 10% Renaissance JV Stake

French energy company TotalEnergies has transferred its 10 per cent participating interest in Nigeria’s Renaissance Joint Venture to Vaaris in a deal valued at $800m, maintaining its full economic rights to three gas-producing licences that contribute about 50 per cent of NLNG’s gas supply. TotalEnergies announced the completion of the sale on Tuesday, confirming that […] TotalEnergies Completes $800m Sale Of 10% Renaissance JV Stake is first pu…

TotalEnergies completes $800 million sale of Renaissance JV oil interest in Nigeria to Vaaris