Latest news with #SNEPCo
Yahoo
29-05-2025
- Business
- Yahoo
Nigeria: TotalEnergies Divests its Non-Operated Interest in the Bonga Field
PARIS, May 29, 2025--(BUSINESS WIRE)--TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces that its subsidiary TotalEnergies EP Nigeria (TEPNG) signed an agreement with Shell Nigeria Exploration and Production Company Ltd (SNEPCo) for the sale of its non-operated 12.5% interest in the OML118 Production Sharing Contract (PSC) for an amount of $ 510 million. OML118 PSC is operated by SNEPCo (55%), in partnership with Esso Exploration and Production Nigeria (20%), TotalEnergies EP Nigeria (12.5%), and Nigerian Agip Exploration (12.5%). Located deep offshore at 120 km south of the Niger Delta in Nigeria, it contains the Bonga field, which started production in 2005, as well as the Bonga North field, the development of which started in 2024. Production from the OML 118 PSC, which is mainly oil, represents approximately 11,000 boe/d in Company share in 2024. Completion of the transaction is subject to customary conditions, including regulatory approvals. "TotalEnergies continues to actively high-grade its Upstream portfolio, to focus on assets with low technical costs and low emissions, and to lower its cash breakeven" said Nicolas Terraz, President Exploration & Production at TotalEnergies. "In Nigeria, the Company is focusing on its operated gas and offshore oil assets and is currently progressing the development of Ubeta project, designed to sustain gas supply to Nigeria LNG." About TotalEnergies in Nigeria TotalEnergies has been present in Nigeria for more than 60 years and employs today more than 1,800 people across different business segments. Nigeria is one of the main contributing countries to TotalEnergies' hydrocarbon production with 209,000 boe/d produced in 2024. TotalEnergies also operates an extensive distribution network which includes about 540 service stations in the country. In all its operations, TotalEnergies is particularly attentive to the socio-economic development of the country and is committed to working with local communities. About TotalEnergies TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to providing as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations. X @TotalEnergies LinkedIn TotalEnergies Facebook TotalEnergies Instagram TotalEnergies Cautionary Note The terms "TotalEnergies", "TotalEnergies company" or "Company" in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words "we", "us" and "our" may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies' financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC). View source version on Contacts TotalEnergies Media Relations: +33 (0)1 47 44 46 99 l presse@ l @TotalEnergiesPR Investor Relations: +33 (0)1 47 44 46 46 l ir@
Yahoo
29-05-2025
- Business
- Yahoo
Nigeria: TotalEnergies Divests its Non-Operated Interest in the Bonga Field
PARIS, May 29, 2025--(BUSINESS WIRE)-- TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces that its subsidiary TotalEnergies EP Nigeria (TEPNG) signed an agreement with Shell Nigeria Exploration and Production Company Ltd (SNEPCo) for the sale of its non-operated 12.5% interest in the OML118 Production Sharing Contract (PSC) for an amount of $ 510 million. OML118 PSC is operated by SNEPCo (55%), in partnership with Esso Exploration and Production Nigeria (20%), TotalEnergies EP Nigeria (12.5%), and Nigerian Agip Exploration (12.5%). Located deep offshore at 120 km south of the Niger Delta in Nigeria, it contains the Bonga field, which started production in 2005, as well as the Bonga North field, the development of which started in 2024. Production from the OML 118 PSC, which is mainly oil, represents approximately 11,000 boe/d in Company share in 2024. Completion of the transaction is subject to customary conditions, including regulatory approvals. "TotalEnergies continues to actively high-grade its Upstream portfolio, to focus on assets with low technical costs and low emissions, and to lower its cash breakeven" said Nicolas Terraz, President Exploration & Production at TotalEnergies. "In Nigeria, the Company is focusing on its operated gas and offshore oil assets and is currently progressing the development of Ubeta project, designed to sustain gas supply to Nigeria LNG." About TotalEnergies in Nigeria TotalEnergies has been present in Nigeria for more than 60 years and employs today more than 1,800 people across different business segments. Nigeria is one of the main contributing countries to TotalEnergies' hydrocarbon production with 209,000 boe/d produced in 2024. TotalEnergies also operates an extensive distribution network which includes about 540 service stations in the country. In all its operations, TotalEnergies is particularly attentive to the socio-economic development of the country and is committed to working with local communities. About TotalEnergies TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to providing as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations. X @TotalEnergies LinkedIn TotalEnergies Facebook TotalEnergies Instagram TotalEnergies Cautionary Note The terms "TotalEnergies", "TotalEnergies company" or "Company" in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words "we", "us" and "our" may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies' financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC). TotalEnergies Media Relations: +33 (0)1 47 44 46 99 l presse@ l @TotalEnergiesPR Investor Relations: +33 (0)1 47 44 46 46 l ir@ View source version on Contacts TotalEnergies Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
23-05-2025
- Business
- Zawya
Shell tasks Nigerian companies on offshore oil and gas projects
Shell Nigeria Exploration and Production Company Ltd (SNEPCo) has urged the Nigerian companies to take advantage of more opportunities in its offshore and shallow water oil and gas projects for their benefits Speaking at the 5th Nigerian Oil and Gas Opportunity Fair (NOGOF) in Yenagoa, Bayelsa State, SNEPCo Managing Director, Ronald Adams, said projects such as Bonga Southwest Aparo, Bonga North and Bonga Main Life extension could grow Nigerian businesses and improve their expertise if they applied themselves seriously to executing higher value contracts. 'SNEPCo pioneered Nigeria's deepwater frontier with the Bonga development as the first deepwater oilfield exploration and production venture in the country,' Ron said in remarks which were delivered by Head Supply Chain, Charles Oranyeli. 'Our operations have greatly benefitted Nigerian businesses, and we expect them to get ready to take up more opportunities, ' he said. Adams said Nigerian companies could upscale their skills and continue to offer services in logistics, drilling, fabrication and construction of subsea manifolds, mooring and loading systems, pressure vessels and provision of gas processing equipment in deep-water, as well as procurement and civil works in shallow water. Since starting production at Bonga in 2005, SNEPCo has been supporting Nigerian contractors and service providers to grow their capacity through the development of systems and a competent workforce with the aim to deliver projects safely, on time and within budget not only in Nigeria but also in the West Arican subregion. The efforts have enabled Nigerian companies to play prominent roles in the safe and efficient operations of the Bonga Floating, Production, Storage and Offloading (FPSO) vessel which produced the 1-billionth barrel of oil from the field on February 3, 2023. Adams added: 'SNEPCo sees Nigerian content development as a business driver and not a regulatory requirement and will continue to support our companies to lay even bigger roles in their support for oil and gas operations.' The three-day NOGOF is being hosted by the Nigerian Content Development and Monitoring Board (NCDMB) with the theme: 'Driving Investment and Production Growth: Shaping a Sustainable Future for Nigeria's Oil and Gas Industry Through Indigenous Capacity Development.' SNEPCo is among the sponsors of the event, and is hosting an exhibition, highlighting its contributions to the development of the Nigerian economy and communities.
Zawya
18-04-2025
- Business
- Zawya
Nigeria: SNEPCo named ‘major oil company of the year'
Shell Nigeria Exploration and Production Company (SNEPCo) Named Major Oil Company of the Year Shell Nigeria Exploration and Production Company (SNEPCo) has been named Major Oil Company of the Year for 2023. The award, presented by Nigerian publication Energy Times, recognises SNEPCo's contributions to deep-water oil and gas development and the industry as a whole. Energy Times also conferred the title of Amazon of Nigeria's Oil Sector 2024 on Mrs. Elohor Aiboni, a former Managing Director of SNEPCo who is currently on international assignment in Brunei. The awards were presented to SNEPCo's Senior Operations Manager, Bolanle Odunayo-Ojo, who represented the Managing Director, Ronald Adams, at a ceremony attended by key stakeholders in the oil and gas sector. Related WACT-APM Terminals named 'most outstanding terminal operator of the year' Onne port processes N2.3bn agricultural exports in 2025 Q1 — Customs Nigeria, South Africa sign pact on mining development 'We are honored to receive these recognitions for the company and our former Managing Director, as they underscore our dedication to excellence in the upstream sector,' Bolanle stated. 'These modest achievements result from teamwork and the support of our partners, particularly the Nigerian National Petroleum Company Limited and regulatory agencies. The awards encourage us to continue working together to power progress and innovation in Nigeria's energy landscape.' SNEPCo has been a pioneer in Nigeria's deep-water oil and gas production since it began operations at Bonga in 2005—Nigeria's first deep-water well. Gas from Bonga is also piped to the Nigeria Liquefied Natural Gas Company Limited at Bonny Island. SNEPCo's operations have led to significant discoveries, including Bonga Southwest in 2001 and Bonga Northwest, which began production on August 5, 2014. In its citation, the Board of Directors of Energy Times highlighted the continued success of Bonga, including the production of its one-billionth barrel of oil in February 2023 and the recent Final Investment Decision on the $5 billion Bonga North project. The award to Mrs. Aiboni recognizes a distinguished career marked by leadership roles within and outside Nigeria. Appointed Managing Director of SNEPCo in 2021, she spearheaded initiatives that enhanced operational efficiency, local content development, and social investment projects across the six geopolitical zones of the country. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
