Shell Boosts Nigerian Deepwater Assets With TotalEnergies Stake Purchase
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 29 2025
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Source: Benzinga
Shell's Acquisition: Shell Nigeria Exploration has agreed to acquire TotalEnergies' 12.5% interest in the OML 118 Production Sharing Contract for $510 million, increasing its ownership from 55% to 67.5%, aligning with its goal of growing production by 1% annually until 2030.
TotalEnergies' Strategy Shift: The sale is part of TotalEnergies' strategy to optimize its Upstream portfolio by focusing on low-cost, low-emission assets, while also progressing projects like Ubeta to sustain gas supply in Nigeria.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
