French oil main TotalEnergies has launched a sale of its minority stake in a Nigerian oil three means partnership. According to the agency, they need to focus on deep-water fields away from the difficulties of working in close proximity with local communities.
The company is selling its interest in 13 onshore fields and 3 in shallow water, producing over 20,000 barrels of oil equivalent per day. The sale includes infrastructure such as three,500 km of pipelines connecting to 2 key crude export terminals, Bonny and Forcados. They will keep OMLs(oil mining licences) 23 and 28 and its curiosity in the related fuel pipeline network that feeds Nigeria LNG.
Shift to deep-water fields
“Disruption of local communities are sources of great concern in the nation. We have appointed Canada’s Scotiabank to guide the sale because the financial adviser to the transaction,” stated Patrick Pouyanne, TotalEnergies chief executive.
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 companies are leaving Nigeria and shifting their portfolios to the place they can add worth to the journey in the course of carbon net-zero dedication.
weksler ea14 , Royal Dutch Shell announced its plan to offload onshore Nigerian oil property in a bid to move to cleaner energy. It stated it was discussing with the federal government to sell its onshore oil property in the country.
Also, Seplat Energy in February announced it had entered right into a contract with ExxonMobil, to purchase Mobil Producing Nigeria Unlimited’s whole oil property in Nigeria. That includes all of Exxon’s complete shallow water belongings within the Niger Delta.
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