On May 30, 2025, TotalEnergies announced it would sell its 12.5% non-operated stake in Nigeria’s offshore Bonga oil field to Shell for USD 510 million. The move aligns with its strategy to focus on low-cost, low-emission assets. Shell boosts its share in the OML 118 block, located 120 km off the coast, from 55% to 67.5%.
