The move will enable TotalEnergies to refocus its portfolio on strategic priorities. (Image source: Adobe Stock)

TotalEnergies has signed a Sale and Purchase Agreement (SPA) with Vaaris for the sale of its 10% non-operated interest in the Renaissance JV licences in Nigeria

The Renaissance JV, formerly known as the SPDC JV, is an unincorporated joint venture between Nigerian National Petroleum Corporation Ltd (55%), Renaissance Africa Energy Company Ltd (30%, operator), TotalEnergies EP Nigeria (10%) and Agip Energy and Natural Resources Nigeria (5%), which holds 18 licences in the Niger Delta.

Under the agreement signed with Vaaris, TotalEnergies EP Nigeria will sell to Vaaris its 10% participating interest and all its rights and obligations in 15 licences of Renaissance JV, which are producing mainly oil. Production from these licenses represented approximately 16,000 barrels equivalent per day in company share in 2025. TotalEnergies EP Nigeria will also transfer to Vaaris its 10% participating interest in the three other licences of Renaissance JV which are producing mainly gas (OML 23, OML 28 and OML 77), while TotalEnergies will retain full economic interest in these licences which currently account for 50% of Nigeria LNG gas supply.

The move can be seen as a rebalancing of TotalEnergies’ portfolio in Nigeria, enabling the company to reduce its exposure to non-operated oil assets while freeing up capital for other priorities and allowing it to retain full economic interest in critical gas assets.

Closing is subject to regulatory approvals.

TotalEnergies has been present in Nigeria for more than 60 years and currently employs more than 1,800 people across different business segments. Nigeria makes a significant contribution 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. The company has a strong commitment to the socio-economic development of the country and is committed to working with local communities.

Reprocessing of the Liberia Sunfish 3D covers approximately 6,100 sq. km and final product release is scheduled for Q3 2026. (Image source: TGS)

TGS, a leading global provider of energy data and intelligence, has started reprocessing of the Liberia Sunfish 3D (Vision) seismic survey in the Harper Basin, offshore Liberia

The project is supported by industry funding and forms part of TGS’ continued commitment to advancing exploration readiness across frontier basins.

The Sunfish 3D survey covers approximately 6,100 sq. km and was originally acquired by TGS in 2013. The project will deliver a full 3D Kirchhoff Pre-Stack Depth Migration from field tapes, applying modern imaging workflows to enhance data quality and subsurface understanding. Final products are scheduled for release in the third quarter of 2026.

The reprocessed dataset is designed to deliver clearer imaging of Upper Cretaceous plays, with a strong focus on preserving the fidelity of AVO response throughout the data. This enables exploration teams to apply advanced reservoir characterisation workflows with greater confidence, supporting more robust prospect evaluation in this complex setting.

David Hajovsky, executive vice president of Multi-Client at TGS commented, “Reprocessing the Sunfish 3D survey represents an important step in maturing exploration readiness in the Harper Basin. This project is part of our broader, long-term commitment to rejuvenating the subsurface data foundation across Liberia and supporting informed, data-driven exploration decisions in this underexplored basin.”

This project is part of a broader, multi-year campaign by TGS in collaboration with National Oil Company of Liberia (NOCAL) to rejuvenate the offshore Liberia seismic data portfolio. Upon completion, TGS will have reprocessed all available 2D and 3D seismic data in offshore Liberia, comprising of more than 50,000 km of 2D seismic and over 31,000 sq. km of 3D seismic through advanced modern pre-stack depth migration workflows. This effort underscores TGS’ long-term commitment to supporting exploration activity and data-driven decision-making in Liberia and the wider West African marg

Africa has many green hydrogen projects planned, but few are moving to FID. (Image source: Adobe Stock)

Africa has dozens of green hydrogen projects planned, but many still lack financing, firm offtake deals and the infrastructure needed to reach FID, according to the Energy Industries Council’s latest Africa Hydrogen Report

Hydrogen realities are hitting Africa’s export push, with a lack of firm offtake agreements, insufficient pipeline infrastructure and a nascent local supply chain raising doubts over how quickly projects can move from plans to final investment decisions, the report says.

According to EICDataStream, a database of global energy projects in progress, there are 78 green hydrogen projects proposed across the continent, led by Egypt, Morocco and South Africa. Many African counties are beginning to position themselves as future suppliers of green hydrogen and its derivatives, such as ammonia, aiming to turn large solar and wind resources into exports for Asia and Europe. The governments within these countries are backing this with national strategies, energy agreements and major project announcements across these technologies even eyeing up the potential for green steel.

But the report shows the African hydrogen market still has a long way to go, with only two small-scale green hydrogen projects in operation, both in Namibia, running at a combined capacity of 17 megawatts.
The report puts Africa’s proposed electrolyser capacity at about 38 gigawatts, with around US$194bn of planned investment. Europe, by comparison, has more capacity planned but lower total capital costs ($166bn). This is because African project CAPEX includes major supporting infrastructure — including pipelines, power generation and desalination needed to secure water — which remains limited and needs significant buildout.

Project concentration is also an issue. Egypt, Morocco and South Africa account for about 80% of Africa’s proposed hydrogen capital spending. Egypt alone represents close to half of the continent’s total, with US$88.5bn of planned investment, backed by a national low-carbon hydrogen strategy.

The report shows that North Africa’s hydrogen ambition is focused on exporting to Europe, while sub-Saharan Africa’s projects are dedicated to ammonia production and shipping to Asian markets such as Japan and South Korea.

The report stresses that many of these projects are still stifled by a lack of offtake agreements. “Offtake agreements are a critical factor in transitioning projects from pre-FID to construction,” according to the report’s authors, Jack Boggis, EIC energy analyst, and Chris Shirley, EIC market intelligence manager (Supply Chain). “Without revenue certainty, even well-located projects face delays to say the least.”
A key report recommendation is to reduce the reliance on mega-projects.

Supply chain capacity is another constraint. Projects will rely heavily on imported equipment, given the lack of electrolyser manufacturers currently operating in Africa. However Egypt has set a 20% local content requirement tied to incentives and limiting the share of foreign labour on projects.

Rebecca Groundwater, EIC’s global head of external affairs, said Africa needs a clearer policy direction to move hydrogen projects into FID. “Governments need to stick to the basics investors need,” she said. “Set clear rules, keep policy stable, speed up permits, and get the basics in place on grid and water. Use finance tools that share risk and bring in development lenders where needed while costs are still high. And match project timing to what export buyers can take. Without that, a lot of this won’t go beyond concept.”

To view the full report, please visit: https://www.the-eic.com/MediaCentre/Publications/Reports

NNPC is planning to sell at least 25% of the equity in select oil and gas fields.

The Nigerian National Petroleum Company Limited (NNPCL) has issued bid calls for investors across the world with an aim to seek partners to share stakes with in some of its assets

These assets besides, the Nigerian operator already shares several assets in the region with international oil companies, including Shell, Chevron, Eni, and TotalEnergies. 

Earlier, there had been talks of the NNPC planning to sell at least 25% of the equity it holds in select oil and gas fields. The company is thus realigning its portfolio optimisation strategy by considering divestments as well as stake reductions.

Last date for online registration for interested bidders is 10 January, which will be followed by pre-screening and qualified firms will gain access to a secure virtual data room.

The bidding process will consider prequalification on the basis of technical and financial capacity, followed by document evaluation, negotiations and regulatory approvals.

Nigeria is aiming to boost production capacity and attract investments while targeting incremental growth through production from marginal onshore fields vacated by international oil companies. 

NNPC has been consistently maintining its strong growth momentum, with 2025 reporting a profit of over US$3.6bn. The company has put in place a US$60bn investment pipeline for advancing investments across upstream operations and gas infrastructure. 

“We are positioning NNPC Limited as a globally competitive energy company capable of delivering sustainable returns while powering the future of Nigeria and Africa,” said Bashir Bayo Ojulari, Group chief executive officer.