08:11 AM EDT, 07/17/2024 (MT Newswires) -- TotalEnergies (TTE) agreed to sell its 10% stake in Nigerian oil and gas assets to Chappal Energies for $860 million, concluding a two-year sale process, Bloomberg reported Wednesday, citing a statement.

The acquisition includes a 10% interest in 15 oil mining leases and the Forcados and Bonny export terminals.

TotalEnergies affiliate or a financial institution chosen by it will provide the financing to Chappal for the deal. Additionally, Trafigura and a syndicate of international banks are contributing funds.

The deal is expected to close by Dec. 31.

TotalEnergies did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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