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Seeking Alpha·United States·Tuesday, October 27, 2026 at 08:10 AM UTC

TotalEnergies closes $800M Nigeria oil divestment, retains key gas assets

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Arundhati Sarkar

TotalEnergies (TTE) Tuesday said that its subsidiary TotalEnergies EP Nigeria (TEPNG) has completed the divestment of its 10% non-operated interest in the Renaissance JV licenses to Vaaris for an aggregate amount of $800 million.
As announced in January, TotalEnergies 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% of Nigeria's LNG gas supply.

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