TotalEnergies has announced that its subsidiary TotalEnergies EP Nigeria (TEPNG) has completed the divestment of its 10% non-operated interest in the Renaissance Joint Venture (JV) licenses to Vaaris for an aggregate amount of $800 million.
In a statement issued on Tuesday, it emphasised that, as it announced on January 14th, 2026, TotalEnergies retains full economic interest in the three gas licenses of the Renaissance JV (OML 23, OML 28 and OML 77), which currently account for 50% of Nigeria LNG gas supply.
The statement stated that TotalEnergies has been present in Nigeria for more than 60 years and employs more than 1,800 people today across different business segments.
It noted that Nigeria is one of the main contributing countries to TotalEnergies’ hydrocarbon production, with 188,000 boe/d produced in 2025.
It added that TotalEnergies also operates an extensive distribution network which includes about 540 service stations in the country.
“In all its operations, TotalEnergies is particularly attentive to the socio-economic development of the country and is committed to working with local communities.
“TotalEnergies is a global integrated energy company that produces and markets energy: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity.
“Our more than 100,000 employees are committed to providing as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations,” it added.
