LE BRIEF

Nigeria: TotalEnergies completes the sale of oil interests to Vaaris for $800 million

LE BRIEF • 2026-10-30

TotalEnergies has completed the sale of its non-operated oil interests in Renaissance JV to Vaaris. The group retains its economic interests in three gas licences supplying Nigeria LNG.

Original source : Original source

LE BRIEF — Friday, 30 October 2026 edition By the LE BRIEF newsroom Country : Nigeria Source publication : 27 and 28 October 2026 Event : Completion announced on 27–28 October 2026; article updated and featured again on 30 October Supplied photograph: TotalEnergies personnel and facilities. Illustration; the specific Nigerian location and reproduction rights remain to be confirmed. Provenance and reproduction rights must be validated before commercial use. French group TotalEnergies has completed the sale to Vaaris of its non-operated 10% interest in the oil licences of the Renaissance joint venture in Nigeria for approximately $800 million. The transaction concerns assets historically held within the former SPDC joint venture, now known as Renaissance Joint Venture. It forms part of the French group's strategy to reorganise its oil and gas asset portfolio. The agreement had been announced previously. The development reported on 27 and 28 October is the completion of the transaction, which effectively transfers the interests concerned to their new owner. This article, first covered in the 28 October edition, has been updated and featured again without creating a second story about the same transaction. Gas interests retained TotalEnergies nevertheless retains its economic interests in three gas licences associated with supplies to Nigeria LNG. This distinction matters: the gr...