France, Dec. 1 -- The sale concerns the PPL 2000 and PPL 2001 exploration areas, located in the prolific West Delta basin and covering a combined 2,000 square kilometres.

TotalEnergies obtained the exploration rights in September after winning them in the 2024 licensing round organised by the Nigerian Upstream Petroleum Regulatory Commission.

Under the agreement, which remains subject to regulatory approval and customary conditions, TotalEnergies will retain a 40-percent stake and continue as operator of the two blocks.

Chevron, through its subsidiary, will hold 40 percent, while Nigerian partner South Atlantic Petroleum will maintain its existing 20 percent interest.

"This new joint venture reinforces TotalEnergies' global offshore e...