Total seeks to join exodus of oil majors from onshore Nigeria

Total seeks to join exodus of oil majors from onshore Nigeria

TotalEnergies will put up for sale its minority stake in a Nigerian oil joint venture, joining the exodus of supermajors from onshore fields in Africa’s largest crude producer.

The French energy giant will look to offload its 10% interest in a firm that holds 20 onshore and shallow water permits in the West African country, Chief Executive Patrick Pouyanne said on a conference call Thursday.

Shell, the operator of the licenses, is already considering bids from four local firms for its 30% shareholding in the company.