TotalEnergies has completed the sale of its 12.5% non-operated interest in Nigeria’s OML118 production sharing contract, acquired by Shell Nigeria Exploration and Production Company (10%) and Nigerian Agip Exploration (2.5%) for USD 510 million. The divestment of this mature offshore asset aligns with the company’s upstream portfolio optimisation. It follows last week’s agreements with Conoil Producing Limited to acquire a 50% operated stake in OPL257, strengthening its Nigerian offshore position.
