TotalEnergies Sells Nigeria Offshore oil Stake to Chevron
Last update: December 1, 2025
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Deal deepens cooperation between TotalEnergies and Chevron as both companies pursue new offshore opportunities in Nigeria.
French oil company TotalEnergies announced on Monday that it is selling a 40 percent stake in its Nigerian offshore exploration licences to Star Deep Water Petroleum Limited, a subsidiary of US company Chevron.
According to a company statement, TotalEnergies has reached an agreement to transfer the stake in two licence areas covering 2,000 square kilometres in the West Delta basin, pending regulatory approval.
CBI News reports that TotalEnergies will continue to operate the sites and will retain a 40 percent share, while its consortium partner South Atlantic Petroleum will hold 20 percent.
The statement said the new partnership strengthens the companies’ global offshore exploration cooperation, noting that TotalEnergies recently acquired a stake in US offshore exploration leases operated by Chevron.
Nicola Mavilla, senior vice president for exploration at TotalEnergies, said the venture is intended to “derisk and develop new opportunities in Nigeria, in line with the objectives of the country.”
