TotalEnergies launches sale of stake in Nigerian Joint Venture

French oil main TotalEnergies has launched a sale of its minority stake in a Nigerian oil joint venture. According to the firm, they want to give consideration to deep-water fields away from the difficulties of working in shut proximity with local communities.
The firm is selling its curiosity in 13 onshore fields and 3 in shallow water, producing over 20,000 barrels of oil equivalent per day. The sale contains infrastructure similar to 3,500 km of pipelines connecting to 2 key crude export terminals, Bonny and Forcados. They will hold OMLs(oil mining licences) 23 and 28 and its curiosity in the associated fuel pipeline network that feeds Nigeria LNG.
Shift to deep-water fields
“Disruption of local communities are sources of nice concern in the country. We have appointed Canada’s Scotiabank to steer the sale as the monetary adviser to the transaction,” stated Patrick Pouyanne, TotalEnergies chief executive.
TotalEnergies is the latest 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 mentioned International oil corporations are leaving Nigeria and shifting their portfolios to where they can add worth to the journey in the direction of carbon net-zero commitment.
Last yr, Royal Dutch Shell announced its plan to dump onshore Nigerian oil assets in a bid to move to cleaner power. It stated it was discussing with the federal government to promote its onshore oil assets in the nation.
Also, Seplat Energy in February announced it had entered right into a contract with ExxonMobil, to purchase Mobil Producing Nigeria Unlimited’s whole oil property in Nigeria. เกจ์ลมsumo includes all of Exxon’s complete shallow water property within the Niger Delta.

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