Shell to acquire 12.5% stake in Bonga oilfield from TotalEnergies for $510m.

Shell, a company specializing in oil and gas exploration and production, agreed to acquire a 12.5% stake in the Bonga oilfield from TotalEnergies, a company focused on integrated energy operations, for $510m. "TotalEnergies continues to actively high-grade its Upstream portfolio, to focus on assets with low technical costs and low emissions, and to lower its cash breakeven. In Nigeria, the Company is focusing on its operated gas and offshore oil assets and is currently progressing the development of Ubeta project, designed to sustain gas supply to Nigeria LNG,” Nicolas Terraz, TotalEnergies President Exploration & Production.