Nigeria : TotalEnergies sells 40% offshore stakes to Chevron to strengthen JV

On December 1, 2025, TotalEnergies EP Nigeria signed a sale agreement with Star Deep Water Petroleum (Chevron subsidiary) for 40% of PPL 2000 and PPL 2001 exploration licenses, covering 2,000 km² in the West Delta Basin. TotalEnergies remains operator with 40%, alongside Chevron (40%) and South Atlantic Petroleum (20%). Completion is subject to approval by the Nigerian regulator.