TotalEnergies Sells 40% Stake in Nigerian Offshore Licenses to Chevron

TotalEnergies has announced the sale of a 40% stake in two offshore exploration licenses in Nigeria to Chevron, aiming to deepen cooperation between the two multinational energy companies. Nicola Mavilla, TotalEnergies' Senior Vice President of Exploration, highlighted the partnership's goal to derisk and develop new opportunities in Nigeria's West Delta Basin.

TotalEnergies will retain operatorship of 40%, while Chevron will hold another 40% and South Atlantic Petroleum will maintain its 20% stake. This move is part of TotalEnergies' ongoing efforts to streamline its African portfolio and focus on assets that serve its operations and seek new supply sources.