TotalEnergies to Sell 40% of Nigerian Assets to Chevron in Strategic Move
TotalEnergies has announced a plan to sell a 40% stake in two offshore exploration licenses in Nigeria to Chevron, aiming to enhance collaboration between the French energy giant and the US-based Chevron. TotalEnergies will retain operational control of the sites with a 40% stake, while Chevron will hold 40% and South Atlantic Petroleum will have 20%.
The move is part of TotalEnergies' strategy to streamline its African portfolio and focus on asset operations while seeking new sources of supply. The deal follows Chevron's recent sale of a 25% interest in its US offshore leases to TotalEnergies.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) will oversee the operations.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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