Shell and Agip Acquire TotalEnergies’ Stake in OML 118

Shell Nigeria Exploration & Production Company (SNEPco) and Nigerian Agip Exploration (NAE) have finalized the acquisition of the 12.5 percent stake previously owned by TotalEnergies in Oil Mining Lease (OML) 118, a deepwater block that hosts the prolific Bonga oil field. The transaction, valued at $510 million, strengthens the strategic position of both Shell and

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