Omo, wahala don land for TotalEnergies as dem don sign agreement to sell dem 10% stake wey dem hold for Renaissance JV, formerly known as SPDC. This one na sharp move wey dem do as dem dey try offload wetin don turn burden for dem own side.
Dis correct deal na to Vaaris, and e come include some other gas licences wey dey produce gas wey dey supply Nigeria LNG. But make we clear here, Total go still hold correct economic interest for di gas assets.
Davido, e fit shock una say, last year dem don block Total sale wey dem arrange with Chappal Energies due to some cash wahala wey Chappal no fit tackle. Na so di saga wey dey follow SPDC dey unfold, as dem dey face many issues like oil spills, theft and sabotage wey dey break dem money.
As e be now, Nigerian regulators go need approve dis new sale before e fit happen. Dem still dey hold 55% share for di joint venture, while Eni dey hold 5%. Last year, Shell don already sell dem 30% stake for same SPDC for about $2.4 billion to local companies. Na so di oil market dey hot like this o!
Total don dey run business for Nigeria since over 60 years and dem get more than 1,800 people wey dey work for dem. Na 209,000 barrels of oil equivalent per day na wetin Nigeria dey contribute to Total’s production, so dem no go just waka comot without minding di local communities.
Dem also get about 540 service stations in Nigeria, wey dey show say dem dey serious about di socio-economic development of di country. Dis new deal go surely reshape di landscape of oil and gas wey dey happen for Niger Delta.
But make we dey watch as di regulatory bodies go fit handle dis situation. If dem push am through, e go be fresh chapter for di industry. Na so di matter take be!
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