Eni and Shell boost stakes in Nigerian deepwater OML118 as TotalEnergies exits Eni has increased its stake in Nigeria’s deepwater OML 118 to 15% after acquiring an additional 2.5% from TotalEnergies, while Shell has raised its own holding to 65% following a parallel transaction.

Eni has increased its stake in Nigeria’s deepwater OML 118 to 15% after acquiring an additional 2.5% from TotalEnergies, while Shell has raised its own holding to 65% following a parallel transaction. Bne IntelliNews #NigerianOil #DeepwaterExploration #Eni #Shell #TotalEnergies

NCDMB, PETAN partner to promote Nigerian oil firms in Namibia - TheCable NCDMB, PETAN partner to promote Nigerian oil firms in Namibia  TheCable

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Shell to acquire TotalEnergies’ stake in Nigerian oil field for $510 mln Investing.com -- Shell (LON:SHEL) on Thursday announced plans to acquire TotalEnergies (LON:TTEF)’ stake in an offshore Nigerian oil field for $510 million. This move will increase Shell’s interest in the Bonga field from 55% to 67.5%. The acquisition involves the purchase of TotalEnergies’ 12.5% stake in the field’s production-sharing contract. Shell said that the acquisition is part of its strategy to increase its combined integrated gas and upstream total production by 1% annually through 2030. The completion of this transaction is contingent on regulatory approval. Shell anticipates that the deal will be finalized before the end of this year.

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