TotalEnergies has completed the sale of its 10 per cent non-operated interest in the Renaissance Joint Venture (JV) licences in Nigeria to Vaaris for $800 million.
The company said its subsidiary, TotalEnergies EP Nigeria, concluded the divestment while retaining its full economic interest in three gas licences operated under the Renaissance JV: OML 23, OML 28 and OML 77.
The three licences currently account for 50 per cent of Nigeria’s gas supply to Nigeria LNG (NLNG).
Read Also: niso-proposes-technical-working-group-to-boost-state-electricity-collaboration
TotalEnergies said Nigeria remained a key contributor to its hydrocarbon production, with output averaging 188,000 barrels of oil equivalent per day in 2025.
The company, which has operated in Nigeria for more than 60 years, employs over 1,800 people across its business segments and operates approximately 540 service stations nationwide.
It also reaffirmed its commitment to supporting Nigeria’s socio-economic development and working with local communities.
TotalEnergies is a global integrated energy company involved in oil, biofuels, natural gas, biogas, low-carbon hydrogen, renewable energy and electricity.
