Nigeria: TotalEnergies Completes the Divestment of its Oil Interest in Renaissance JV (formerly SPDC)
TotalEnergies has completed the divestment of its 10% non-operated interest in the Renaissance JV licenses (formerly SPDC) to Vaaris for US$800 million. The company retains full economic interest in the three gas licenses of the Renaissance JV (OML 23, OML 28 and OML 77), which currently supply 50% of Nigeria LNG's gas.
Key figures
- Deal Value Usd
- 800000000
- Divested stake
- 10% non-operated interest in Renaissance JV licenses
- Gas licenses retained
- ["OML 23","OML 28","OML 77"]
- Nigeria lng supply share
- 50%
- Nigeria production 2025 boe d
- 188000
AI analysis
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