Shell Boost Stake in Nigerian Deepwater as TotalEnergies Exits Bonga Oilfield ...Middle East

Shell will buy TotalEnergies’ 12.5% non-operated stake in the deepwater oilfield Bonga offshore Nigeria, where the UK-based supermajor plans to develop another major project. Shell’s subsidiary operating the Bonga oilfield, Shell Nigeria Exploration and Production Company (SNEPCo), has signed an agreement to buy the French supermajor’s 12.5% stake in the OML 118 Production Sharing Contract, an oil mining lease offshore Nigeria that includes the Bonga field, Shell said on Thursday. After the deal is completed, Shell will increase…

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