TotalEnergies has completed the sale of its subsidiary TotalEnergies EP Nigeria’s (TEPNG) 10 per cent non-operated stake in the Renaissance JV licences to Vaaris for $800 million.

Despite the divestment, TotalEnergies retains full economic interest in three Renaissance JV gas licences, OML 23, OML 28 and OML 77, which currently supply 50 per cent of the gas used by Nigeria LNG, the company confirmed. -OGN/TradeArabia News Service