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Nigeria: TotalEnergies Completes the Divestment of its Oil Interest in Renaissance JV (formerly SPDC)

TTEPARIS:TTE
  • TotalEnergies subsidiary TotalEnergies EP Nigeria completed the divestment of its 10% non-operated interest in Renaissance JV licenses to Vaaris for US$800 million.
  • TotalEnergies retains full economic interest in the three gas licenses of the Renaissance JV (OML 23, OML 28, & OML 77), which supply 50% of Nigeria LNG gas.
  • The company has operated in Nigeria for over 60 years, employing more than 1,800 people & producing 188,000 boe/d in 2025.
  • TotalEnergies maintains an extensive distribution network in the country comprising approximately 540 service stations.
  • The global integrated energy company operates in about 120 countries with over 100,000 employees focused on sustainable energy solutions.