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Investing.com -- TotalEnergies has agreed to sell a 40% participation in two offshore Nigerian petroleum prospecting licenses to Chevron, according to a statement from the companies.
The deal involves Petroleum Prospecting License 2000 and Petroleum Prospecting License 2001, which cover approximately 2,000 square kilometers in Nigeria’s West Delta basin.
Following the transaction, TotalEnergies will maintain its position as operator with a 40% stake, while South Atlantic Petroleum will retain its 20% interest in the licenses.
This acquisition builds on a previous agreement between TotalEnergies and Chevron to collaborate on exploration opportunities offshore Nigeria.
The companies did not disclose the financial terms of the deal.
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