TotalEnergies launches sale of stake in Nigerian Joint Venture

French oil major TotalEnergies has launched a sale of its minority stake in a Nigerian oil three way partnership. According to the agency, they want to concentrate on deep-water fields away from the difficulties of operating in close proximity with local communities.
The company is promoting its interest in 13 onshore fields and three in shallow water, producing over 20,000 barrels of oil equal per day. The sale includes infrastructure corresponding to 3,500 km of pipelines connecting to 2 key crude export terminals, Bonny and Forcados. They will maintain OMLs(oil mining licences) 23 and 28 and its interest within the associated gas pipeline network that feeds Nigeria LNG.
Shift to deep-water fields
“Disruption of local communities are sources of nice concern in the nation. We have appointed Canada’s Scotiabank to steer the sale because the financial adviser to the transaction,” mentioned Patrick Pouyanne, TotalEnergies chief executive.
เกจวัดแรงดันอาร์กอน is the newest 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 firms are leaving Nigeria and shifting their portfolios to the place they can add value to the journey in the path of carbon net-zero commitment.
Last 12 months, Royal Dutch Shell announced its plan to offload onshore Nigerian oil assets in a bid to move to cleaner energy. It stated it was discussing with the federal government to sell its onshore oil property within the nation.
Also, Seplat Energy in February announced it had entered into a contract with ExxonMobil, to buy Mobil Producing Nigeria Unlimited’s entire oil belongings in Nigeria. That contains all of Exxon’s complete shallow water belongings in the Niger Delta.
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