REG-TotalEnergies SE 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) in Nigeria to Vaaris for US$ 800 million. The company retains full economic interest in the three gas licenses of the 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
- Nigeria production
- 188,000 boe/d in 2025
AI analysis
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