TotalEnergies agrees sale of its 10% Renaissance JV oil interest to Vaaris
- Value
- Undisclosed
- Date
- 13 January 2026
- Status
- Signed
- Transaction type
- Divestment
- Practice area
- Energy and Natural Resources, Mergers and Acquisitions
- Sector
- Oil and Gas
- Jurisdiction
- Nigeria
- Client
- TotalEnergies EP Nigeria Limited (Seller)
Summary
TotalEnergies EP Nigeria signed a sale and purchase agreement on 13 January 2026 to sell its 10% non-operated interest in the NNPC/Renaissance joint venture’s oil-producing licences to Vaaris. The fifteen licences produced about 16,000 barrels of oil equivalent per day net to TotalEnergies in 2025.
TotalEnergies retains full economic interest in OML 23, OML 28 and OML 77, which it says account for half of Nigeria LNG’s gas supply. Closing is subject to regulatory approvals. The price was not disclosed.
Why it matters
Continues the transfer of onshore Niger Delta interests from international oil companies to Nigerian independents.
Scope of legal work
TEMPLARS advised TotalEnergies on the transaction, with tax and competition law input.
Advisers
| Lawyer | Firm | Role |
|---|---|---|
| Dupe Dabiri | TEMPLARS | Partner (lead) |
| Adebimpe MacGregor | TEMPLARS | Senior Associate |
| Gracia Bonire | TEMPLARS | Associate |
| Theophilus Eke | TEMPLARS | Associate |
| Sesan Sulaiman | TEMPLARS | Partner (tax) |
| Chibuike Ikefuna | TEMPLARS | Senior Associate (tax) |
| Zelda Akindele | TEMPLARS | Partner (competition) |
Sources
Compiled by Meridian from the public announcements and filings listed under Sources.
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