Despite the divestment, TotalEnergies will retain ownership of the production share, ensuring access to associated infrastructure and pipelines essential for supplying gas to the Nigeria LNG plant.
Since February, the CEO of the French group has hinted at plans to divest its 10% stake in the Shell Petroleum Development Company of Nigeria Limited, citing various challenges the company faced, including oil spills, theft, and operational issues.
“This divestment…allows us to concentrate our onshore Nigeria operations solely on …” said Nicolas Terraz, President of Exploration & Production at TotalEnergies. READ MORE