Chappal Energies to acquire a 10% stake in Nigeria oil assets from TotalEnergies for $860m.

Chappal Energies, an ESG-centered energy company, agreed to acquire a 10% stake in Nigeria oil assets from TotalEnergies, a global integrated energy company, for $860m. “TotalEnergies continues to actively manage its portfolio in Nigeria, in line with its strategy to focus on its oil offshore and gas assets. After the launch of the Ubeta gas development on OML58 license last month, this divestment of our interest in SPDC JV licenses allows us to focus our onshore Nigeria presence solely on the integrated gas value chain and is designed to ensure the continuity of feed gas supply to Nigeria LNG in the future,” Nicolas Terraz, TotalEnergies President Exploration & Production.