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Totalenergies Sells Nigerian Oil Field Stake To Shell
(MENAFN- Gulf Times) TotalEnergies announced today that it will sell its stake in a major offshore oil field in Nigeria to Shell for $510 million.
In separate statements, the two companies said that TotalEnergies is relinquishing its 12.5% stake in the Bonga field, raising Shell's share to 67.5%.
With this move, the French company is exiting the production-sharing agreement signed in 2021 between the Nigerian government, TotalEnergies, Shell, ExxonMobil, and Eni, after two years of difficult negotiations.
In separate statements, the two companies said that TotalEnergies is relinquishing its 12.5% stake in the Bonga field, raising Shell's share to 67.5%.
With this move, the French company is exiting the production-sharing agreement signed in 2021 between the Nigerian government, TotalEnergies, Shell, ExxonMobil, and Eni, after two years of difficult negotiations.
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