TotalEnergies Completes $800m Divestment Deal In Nigeria

TotalEnergies says its subsidiary TotalEnergies EP Nigeria has completed the divestment of its 10 per cent non-operated interest in the Renaissance JV licenses to Vaaris for an aggregate amount of US$ 800 million.

TotalEnergies, however retains full economic interest in the three gas licenses of the Renaissance JV (OML 23, OML 28 and OML 77), which currently account for 50 per cent of Nigeria LNG gas supply.

TotalEnergies has been present in Nigeria for more than 60 years and employs today more than 1,800 people across different business segments.

Nigeria is one of the main contributing countries to TotalEnergies’ hydrocarbon production with 188,000 boe/d produced in 2025.

TotalEnergies also operates an extensive distribution network which includes about 540 service stations in the country.

In all its operations, TotalEnergies is particularly attentive to the socio-economic development of the country and is committed to working with local communities.

The Company a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity.