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TotalEnergies’ $510m OML118 divestment scales regulators approval
Shell, Eni to pay $35.7m to FG Sopuruchi Onwuka Government has approved the deal by TotalEnergies to sell off its 12.5 interest in the deepwater Oil Mining Lease (OML) 118 to Shell Nigerian Exploration and Production Company (SNEPCO) Limited and…
NUPRC nullifies TotalEnergies/Chappal divestment deal, stakes still open to new deal
Faults report on N8.4trn oil theft Sopuruchi Onwuka Federal government has declared that the divestment of the 10 percent stake belonging to TotalEnergies in the joint venture operated by Renaissance Africa Energy Company (RAEC) Limited would no longer progress following…
More divestment opportunities underway as NUPRC audits dormant assets
*Chevron, TotalEnergies have options to divest Sopuruchi Onwuka Investors and players shopping entry opportunities in the upstream petroleum industry may prepare to take the inorganic route as ongoing reviews by the nation’s acreage administrator may push international oil companies to…
Divestments: UN body indicts IOCs on remediation breaches
Sopuruchi Onwuka The lingering concerns about who takes eventual responsibility for decommissioning of production facilities and remediation of oilfield environments have reached global arbitration despite earlier assurances that funding and roles have been resolved among deal parties. A panel of…
2025 Bid Round: NUPRC flaunts fiscal incentives to investors
Signs PSC with TotalEnergies-Sapetro consortium Sopuruchi Onwuka The government has called on global upstream petroleum industry investment community to seize the advantage of the prevailing regulatory, fiscal and governance regime in seeking exploration licenses in the upcoming next bid round…
Bandele stresses efficiency, collaboration to drive Africa’s Energy
Deputy Managing Director in charge of Deepwater Assets at TotalEnergies in Nigeria, Engr Victor Bandele, has stressed the need for greater efficiency and collaboration among players to enable Nigeria’s energy industry attract investments; noting that the right environment increases the appetite…
Too hot to handle: TotalEnergies quits South African offshore blocks
Sopuruchi Onwuka French multinational major which celebrated rare hydrocarbon discoveries offshore South Africa is now counting losses after the terrains proved too hostile for safe and profitable commercial operations. TotalEnergies had entered into Block 11B/12B in 2013 and made two…
Operating climate not OK for deepwater investments __TotalEnergies
Sopuruchi Onwuka Nigeria has not seen any major petroleum exploration and development investment recently in the deepwater terrain due to local conditions that drive cost and drain returns; and the recent executive order by the government to incentivise activities prove…
NNPC, TotalEnergies to stake $550m on Ubeta field development
Sopuruchi Onwuka Parties in the operations of Oil Mining Lease (OML) 58 onshore Niger Delta have agreed to deploy additional half billion dollar investment in further development of the acreage area where two oilfields are already producing tirelessly for…
Investments by IOCs to drive Africa’s oilfiled activities in 2024
Sopuruchi Onwuka Investment pledges by the leading international oil companies (IOCs) are showing positive business propositions for service providers, drilling contractors that play in the African petroleum terrains. Some of the IOCs including TotalEnergies, Shell and Chevron have all confirmed…
