TTE - TotalEnergies Sells Nigerian Oil Assets for $860M: Focus Shifts to Gas | Benzinga
TotalEnergies SE (NYSE:TTE) shares are trading higher today after its subsidiary, TotalEnergies EP Nigeria, inked a sale and purchase agreement (SPA) with Chappal Energies to sell its 10% interest in the SPDC JV licenses in Nigeria for $860 million.
SPDC JV, operated by Shell Petroleum Development Company of Nigeria with partners including Nigerian National Petroleum Corporation (55%), TotalEnergies EP Nigeria (10%), and NAOC (5%), holds 18 licenses in the Niger Delta.
As per the terms, TotalEnergies EP Nigeria will ...