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TotalEnergies sells its interest in SPDC JV, retaining interest in gas supply to Nigeria LNG

July 2024

Client(s) TotalEnergies SE

Jones Day is advising TotalEnergies in the $860 million sale and purchase agreement (SPA) by its subsidiary, TotalEnergies EP Nigeria, with Chappal Energies for the sale of its 10% interest in the SPDC JV licenses in Nigeria. SPDC JV is an unincorporated joint venture between Nigerian National Petroleum Corporation Ltd (55%), Shell Petroleum Development Company of Nigeria (30%, operator), TotalEnergies EP Nigeria (10%) and NAOC (5%), which holds 18 licenses in the Niger Delta.

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