DivestmentMar 29, 2026, 11:07 PM
TotalEnergies Sells 40% Stake in Nigerian Exploration Licenses to Chevron
AI Summary
TotalEnergies EP Nigeria has signed a farmout agreement to sell a 40% participation in the PPL 2000 and PPL 2001 exploration licenses, offshore Nigeria, to Chevron's Star Deep Water Petroleum Limited. TotalEnergies will remain the operator with a 40% participation alongside Chevron (40%) and South Atlantic Petroleum (20%). This move expands the global offshore exploration collaboration between TotalEnergies and Chevron.
Key Highlights
- TotalEnergies sells 40% stake in PPL 2000 & 2001 exploration licenses to Chevron.
- Licenses cover approximately 2,000 square kilometers in the West Delta basin, offshore Nigeria.
- TotalEnergies remains operator with 40% participation; Chevron also holds 40%, South Atlantic Petroleum 20%.
Price Impact
More from TTE