Archive · 1 Dec 2025
TotalEnergies Sells 40% Stake in Nigeria Licenses to Chevron
TotalEnergies, a big energy company from France, is selling a big part (40%) of two exploration licenses in Nigeria to Chevron, a US energy company.
After the sale, TotalEnergies will still have a 40% share and will keep working on the site with Chevron and another company called South Atlantic Petroleum.
They need to get permission from regulators before the deal is final.
This is part of a bigger plan to work together on finding and developing new energy resources.
TotalEnergies has been working in Nigeria for a long time, over 60 years, and employs many people there.
TotalEnergies agrees to sell 40% stake in two offshore exploration licenses in Nigeria to Chevron.
TotalEnergies will retain a 40% stake and continue to operate the site with Chevron and South Atlantic Petroleum.
The transaction is subject to regulatory approvals and other standard conditions.
This deal follows a similar joint venture in US offshore exploration between the two companies.
TotalEnergies has been operating in Nigeria for over 60 years with significant local employment.
- Who
- TotalEnergies and Chevron
- What
- Sale of a 40% stake in two offshore exploration licenses in Nigeria
- When
- Announced on Monday, exact completion date not specified
- Where
- Offshore Nigeria
- Why
- To enhance collaboration and unlock new resources in the West Delta basin
- Company Selling Stake
- TotalEnergies
- Company Buying Stake
- Chevron
- Stake Sold
- 40%
- Location of Licenses
- Offshore Nigeria
- TotalEnergies' Remaining Stake
- 40%
- Other Partners
- South Atlantic Petroleum
- Transaction Completion Condition
- Regulatory Approvals
- TotalEnergies' Presence in Nigeria
- Over 60 years