TotalEnergies launches sale of stake in Nigerian Joint Venture

ไดอะแฟรม has launched a sale of its minority stake in a Nigerian oil three method partnership. According to the firm, they need to concentrate on deep-water fields away from the difficulties of working in close proximity with native communities.
The company is selling 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 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 in the associated fuel pipeline network that feeds Nigeria LNG.
Shift to deep-water fields

“Disruption of local communities are sources of great concern within the country. We have appointed Canada’s Scotiabank to guide the sale because the financial adviser to the transaction,” said Patrick Pouyanne, TotalEnergies chief government.
TotalEnergies is the newest multinational to give up its onshore asset for deep-water fields. Mele Kyari, the group managing director, Nigerian National Petroleum Company (NNPC) Limited had in February said International oil corporations are leaving Nigeria and shifting their portfolios to where they can add value to the journey in path of carbon net-zero dedication.
Last year, Royal Dutch Shell introduced its plan to dump onshore Nigerian oil assets in a bid to move to cleaner power. It stated it was discussing with the federal authorities to promote its onshore oil property within 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 property in Nigeria. That consists of all of Exxon’s entire shallow water property in the Niger Delta.

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