US EditionEni and Shell Boost Stakes in Nigerian Deepwater OML118 as TotalEnergies Exits
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6 Articles
Eni and Shell boost stakes in Nigerian deepwater OML118 as TotalEnergies exits
Eni has increased its stake in Nigeria’s deepwater OML 118 to 15% after acquiring an additional 2.5% from TotalEnergies, while Shell has raised its own holding to 65% following a parallel transaction.
TotalEnergies Completes Bonga Field Stake Divestment
Advertisements TotalEnergies has completed the sale of its 12.5% non-operated stake in Nigeria’s deepwater Bonga field, marking another step in its ongoing upstream portfolio rebalancing.The company confirmed on Tuesday that its subsidiary, TotalEnergies EP Nigeria (TEPNG), finalized the divestment of its interest in the OML 118 Production Sharing Contract to existing partners Shell Nigeria Exploration and Production Company Ltd. (10%) and Niger…
TotalEnergies Completes Divestment of 12.5% Bonga Field Stake in Nigeria
By Adedapo Adesanya TotalEnergies has completed the sale of its 12.5 per cent non-operated stake in Nigeria’s deepwater Bonga field, marking another step in its ongoing upstream portfolio rebalancing. TotalEnergies wrapped up the $510 million sale to oil majors, Shell and Eni, which was first announced in May 2025. The company confirmed that its subsidiary, […]
Shell and Eni increase stakes in Nigeria OML 118
Shell and Eni have each boosted their positions in the Nigerian deep-water license block OML 118. Shell’s subsidiary SNEPCo completed its previously announced agreement to raise its interest in OML 118 from 55% to 65% and will continue to operate the Bonga field. Meanwhile, Eni’s subsidiary Nigeria Agip Exploration exercised its pre-emption right and increased … The post Shell and Eni increase stakes in Nigeria OML 118 appeared first on Drilling…
Shell completes acquisition that raises interest in Nigeria’s deep-water Bonga field to 65%
WorldStage– Shell Nigeria Exploration and Production Company (SNEPCo), a subsidiary of Shell plc, has completed the previously announced agreement and increased its stake in the OML 118 Production Sharing Contract (OML 118 PSC) from 55% to 65%. Following our final investment decision on Bonga North last year, this acquisition represents another significant investment in Nigeria deep-water, and is part of Shell’s strategy to further invest in com…
The French group TotalEnergys has announced the sale of its share of 12.5% in the field of oil exploitation of Bonga, Nigeria, for 510 million dollars. TotalEnergys, which was not the operator in this field, has explained that its share has been transferred to Shell, which remains with 10%, and to Nigerian Agip Exploration, which has acquired the remaining 2.5%.The French company has been present for more than 60 years in Nigeria, which is one o…
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