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 agency, they need to focus on deep-water fields away from the difficulties of working in shut proximity with native communities.
The company is selling its curiosity in thirteen onshore fields and 3 in shallow water, producing over 20,000 barrels of oil equal per day. pressure gauge ออก หลัง includes infrastructure such as three,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 related gasoline pipeline network that feeds Nigeria LNG.
Shift to deep-water fields
“Disruption of local communities are sources of great concern within the nation. We have appointed Canada’s Scotiabank to steer the sale as the monetary adviser to the transaction,” mentioned Patrick Pouyanne, TotalEnergies chief government.
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 firms are leaving Nigeria and shifting their portfolios to the place they’ll add value to the journey in the course of carbon net-zero dedication.
Last year, Royal Dutch Shell introduced its plan to offload onshore Nigerian oil property in a bid to move to cleaner vitality. It said it was discussing with the federal government to sell its onshore oil belongings within the country.
Also, Seplat Energy in February announced it had entered right into a contract with ExxonMobil, to purchase Mobil Producing Nigeria Unlimited’s complete oil assets in Nigeria. That includes all of Exxon’s entire shallow water property within the Niger Delta.

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