INDUSTRYGAUGE LOGO ORI

French oil main TotalEnergies has launched a sale of its minority stake in a Nigerian oil three way partnership. According to the agency, they need to give attention to deep-water fields away from the difficulties of working in close proximity with local communities.
spmk700 is selling its interest in thirteen onshore fields and 3 in shallow water, producing over 20,000 barrels of oil equivalent per day. The sale consists of infrastructure such as three,500 km of pipelines connecting to 2 key crude export terminals, Bonny and Forcados. They will maintain OMLs(oil mining licences) 23 and 28 and its interest within the associated fuel pipeline community that feeds Nigeria LNG.
Shift to deep-water fields
“Disruption of native communities are sources of great concern in the country. We have appointed Canada’s Scotiabank to guide the sale because the monetary adviser to the transaction,” said Patrick Pouyanne, TotalEnergies chief government.
TotalEnergies is the newest multinational to surrender 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 companies are leaving Nigeria and shifting their portfolios to the place they can add value to the journey in path of carbon net-zero dedication.
Last yr, Royal Dutch Shell introduced its plan to dump onshore Nigerian oil property in a bid to maneuver to cleaner vitality. It said it was discussing with the federal government to promote its onshore oil assets within the country.
Also, Seplat Energy in February announced it had entered right into a contract with ExxonMobil, to buy Mobil Producing Nigeria Unlimited’s entire oil property in Nigeria. That includes all of Exxon’s whole shallow water belongings within the Niger Delta.
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