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Total: sells stake in block in Nigeria

(CercleFinance.com) - Total announces that it has sold its 10% interest in the Oil Mining Lease (OML) 17 permit to the Nigerian company TNOG Oil & Gas Limited, an onshore block that produced approximately 2,500 barrels of oil equivalent per day (Total's share) in 2020.


This interest is being sold for approximately 180 million dollars, of which approximately 150 million dollars has been paid at close, with the balance subject to deferred payments.

“This transaction fits with our strategy of actively managing assets to continue improving our portfolio” said Jean-Pierre Sbraire, Chief Financial Officer at Total.


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