Nigeria M&A | Chappal Energies acquires TotalEnergies’ stake in the SPDC JV, enters Nigerian onshore
July 23, 2024
On 17 July 2024, TotalEnergies announced it had reached an agreement with Chappal Energies for the sale of its 10% interest in the SPDC JV for a firm consideration of US$860 million. Chappal Energies is a Mauritius-based E&P with a Nigeria focus. TotalEnergies holds a 10% non-operated stake in the SPDC JV, which is operated by Shell with a 30% interest. The other partners are Eni (5%) and NNPC (55%).