TotalEnergies: sale of interest in licenses in Nigeria
(CercleFinance.com) - TotalEnergies announces that its subsidiary TotalEnergies EP Nigeria has signed an agreement with Chappal Energies for the sale of its 10% interest in the production licenses of the SPDC joint venture, which holds 18 licenses in the Niger Delta.
Under the terms of the agreement, TotalEnergies EP Nigeria will first sell its share in 15 licenses producing mainly oil, and then its share in the remaining three producing mainly gas (while retaining a full economic interest in the latter).
This sale, for a firm amount of $860m, enables the French group to refocus its onshore activity in Nigeria on the integrated gas value chain. Completion is subject to the usual conditions, including regulatory approval.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
Under the terms of the agreement, TotalEnergies EP Nigeria will first sell its share in 15 licenses producing mainly oil, and then its share in the remaining three producing mainly gas (while retaining a full economic interest in the latter).
This sale, for a firm amount of $860m, enables the French group to refocus its onshore activity in Nigeria on the integrated gas value chain. Completion is subject to the usual conditions, including regulatory approval.
Copyright (c) 2024 CercleFinance.com. All rights reserved.