TotalEnergies sells 12.5% stake in Bonga field, Shell, Agip assume liabilities

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has approved a $510 million divestment by TotalEnergies Exploration and Production Nigeria Limited, paving the way for Shell Nigeria Exploration and Production Company (SNEPCo) and Nigerian Agip Exploration (NAE) to increase their equity in Oil Mining Lease (OML) 118, home of the Bonga deep-water field.