TotalEnergies Sells Nigeria Oil Interest to Vaaris for $800 Million

TotalEnergies completed the divestment of its 10% non-operated interest in the Renaissance JV licenses in Nigeria to Vaaris for US$800 million. The transaction concludes a process that began with an initial announcement on January 14, 2026.

While the company has exited these specific oil interests, it maintains its presence in the region through full economic interest in three gas licenses: OML 23, OML 28, and OML 77. These assets currently provide 50% of the gas supply for Nigeria LNG.