Shell Nigeria Exploration and Production Company Ltd (SNEPCo), a subsidiary of energy giant Shell, has acquired a 12.5 percent stake in Nigeria’s Bonga. The transaction is valued at $510 million and is still subject to customary conditions, including regulatory approvals. TotalEnergies confirmed the divestment in a statement issued in Paris, noting that its subsidiary, TotalEnergies EP Nigeria (TEPNG), signed a binding agreement with SNEPCo for the sale of its non-operated interest in the Oil Mining Lease (OML) 118 Production Sharing Contract (PSC), which includes the Bonga field. OML 118, located…
Read More‘12.5% Stake,’ Shell Bets Fresh $510m On Nigeria’s Bonga Oil Field
