TotalEnergies SE has agreed to hand over a 40 percent interest in a Nigerian offshore block to South Atlantic Petroleum Ltd., the Lagos-based company better known as SAPETRO.
The deal marks a notable shift in ownership within Nigeria's offshore energy sector, with a homegrown company stepping into a significant stake previously held by one of the world's largest energy giants.
Details beyond the agreement itself remain limited for now, but the move signals continued appetite among African energy firms for deeper participation in the continent's oil and gas assets. Watch this space.
Originally published by BusinessDay.