TotalEnergies to Sell Stake in Nigeria Projects to Chevron

TotalEnergies TTE 0.46%increase; green up pointing triangle said it would sell a stake in two oil-and-gas exploration projects offshore Nigeria to U.S. peer Chevron CVX 0.93%increase; green up pointing triangle.

Star Deep Water Petroleum, a Chevron subsidiary, will take a 40% stake in the PPL 2000 and 2001 licences located in the West Delta basin, which were awarded to a consortium of TotalEnergies and Nigeria’s South Atlantic Petroleum, the French energy major said Monday.