TotalEnergies divests NNPCL/Renaissance JV interest to Vaaris

TotalEnergies EP Nigeria Limited agreed to divest its 10% participating interest in in a major portfolio of onshore and shallow-water assets to the indigenous energy company, Vaaris. The Sale and Purchase Agreement, signed on January 13, 2026, involves TotalEnergies’ stake in the NNPCL/Renaissance Joint Venture, a consortium previously known as the Shell Petroleum Development Company (SPDC) JV. This transaction covers 18 oil mining leases (OMLs) across the Niger Delta, which collectively accounted for approximately 16,000 barrels of oil equivalent per day of TotalEnergies’ production in 2025

Advisory Team

Templars

Dupe Dabiri

Adebimpe MacGregor

Gracia Bonire

Theo Eke