Participants at the Mastercard Foundation EdTech Fellowship event in Kenya.
Shell has agreed to purchase TotalEnergies’ 12.5% stake in Nigeria’s Bonga offshore oil field for $510 million, boosting its own share to 67.5%. The transaction marks TotalEnergies’ strategic exit from a production-sharing deal signed with Nigeria in 2021, which also included ExxonMobil and Eni. Located 120 km south of the Niger Delta, the Bonga field is a key asset in Nigeria’s oil sector, with a daily production capacity of 250,000 barrels. While Shell views the deal as a major investment to strengthen its upstream portfolio in Nigeria’s deepwater operations, TotalEnergies says it will now focus more on its operated gas and offshore oil assets in the country.
IOL