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TotalEnergies has formally finalized the divestment of its 10% non-operated curiosity within the Renaissance Joint Venture (JV)—previously often called the Shell Petroleum Development Company (SPDC) JV—to Vaaris for an combination money consideration of US$800 million.
Daily Trust studies that the transaction marks a serious milestone within the ongoing restructuring of onshore oil assets within the Niger Delta as TotalEnergies strategically retained full financial curiosity within the three way partnership’s very important gas assets.
Under the phrases of the finalized settlement, TotalEnergies EP Nigeria (TEPNG) transferred its 10% collaborating curiosity throughout 15 primarily oil-producing licenses throughout the Renaissance JV framework.
Foluke Zaccheaus is a blogger and copywriter based in Birnin Kebbi. She hails from Kebbi State. She has spent five years writing news articles grounded in facts, with a focus on reporting that is clear, accurate, and easy for readers to follow. She is the voice behind classicgist.com.ng, where she shares her work with an audience that follows public affairs. Her background in copywriting gives her a sharp eye for clear, engaging language, so her stories stay readable without losing accuracy.
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