TotalEnergies launches sale of stake in Nigerian Joint Venture

French oil main TotalEnergies has launched a sale of its minority stake in a Nigerian oil three way partnership. According to the firm, they wish to concentrate on deep-water fields away from the difficulties of working in close proximity with local communities.
The firm is promoting its curiosity in thirteen onshore fields and three in shallow water, producing over 20,000 barrels of oil equivalent per day. The sale includes infrastructure such as 3,500 km of pipelines connecting to 2 key crude export terminals, Bonny and Forcados. They will keep OMLs(oil mining licences) 23 and 28 and its curiosity in the associated fuel pipeline network that feeds Nigeria LNG.
Shift to deep-water fields
“Disruption of native communities are sources of great concern within the nation. We have appointed Canada’s Scotiabank to lead the sale because the financial adviser to the transaction,” mentioned Patrick Pouyanne, TotalEnergies chief executive.
เกจวัดแรงดันสูญญากาศ is the latest multinational to surrender its onshore asset for deep-water fields. Mele Kyari, the group managing director, Nigerian National Petroleum Company (NNPC) Limited had in February stated International oil companies are leaving Nigeria and shifting their portfolios to where they will add worth to the journey towards carbon net-zero dedication.
Last 12 months, Royal Dutch Shell introduced its plan to dump onshore Nigerian oil assets in a bid to maneuver to cleaner energy. It mentioned it was discussing with the federal government to promote its onshore oil assets in the country.
Also, Seplat Energy in February announced it had entered into a contract with ExxonMobil, to buy Mobil Producing Nigeria Unlimited’s complete oil belongings in Nigeria. That includes all of Exxon’s complete shallow water property within the Niger Delta.
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