TotalEnergies said it plans to sell a 40% interest in its Nigerian offshore exploration licenses to a Chevron subsidiary.
The company announced it has signed a deal to hand over that share of two license areas spanning 2,000 square kilometers in the West Delta basin to Star Deep Water Petroleum Limited, pending regulatory consent.
TotalEnergies will continue running the blocks and keep its remaining 40%, while South Atlantic Petroleum holds the other 20%.
The company noted that the partnership deepens its offshore exploration work with Chevron, following their recent cooperation on US offshore leases.
Nicola Mavilla, the firm’s exploration lead, added that the partnership is meant to reduce risks and open new prospects in Nigeria in line with national goals.
source: punchng.com
African Energy Council