Chappal to Buy TotalEnergies’ Stake in Nigeria Oil Assets
- Chappal will pay $860 million for stakes in fields, terminals
- Transaction is expected to close by the end of this year
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Chappal Energies Mauritius Ltd. agreed to buy TotalEnergies SE’s 10% stake in oil and gas assets in Nigeria for $860 million, as oil majors continue exiting problematic onshore operations in the West African nation.
The deal includes a 10% interest in 15 oil mining leases and the Forcados and Bonny export terminals, which are part of the Shell Petroleum Development Co. joint venture, Nigerian-owned Chappal Energies said in a statement Wednesday.