TotalEnergies & Chevron Deepen Nigerian Oil Exploration
Update: 2025-12-01
Description
TotalEnergies and Chevron strengthen their partnership with a new offshore oil exploration venture in Nigeria. Chevron will hold a 40% stake in two licenses, with TotalEnergies maintaining operational control. This move follows a previous U.S. deal, deepening their strategic collaboration. The project aims to reduce risks and explore opportunities in a key Nigerian basin, contributing to TotalEnergies significant production in the region. For Chevron, this expansion targets West Africas established oil market, with Nigeria actively seeking new investments.
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