TotalEnergies to Sell 40% Stake in Nigerian Offshore Exploration Licenses to Chevron

TotalEnergies to sell 40% stake in two exploration licenses offshore Nigeria to Chevron. The licenses, PPL 2000 and PPL 2001, cover an area of 2,000 square kilometers in the West Delta basin. TotalEnergies will remain operator with 40% participation, Chevron with 20%, and South Atlantic Petroleum with the remaining 20%. The deal aims to derisk and develop new opportunities in Nigeria.