TotalEnergies announced on May 29, 2025, the sale of its participation in the Bonga oil field to a subsidiary of Shell in Nigeria for $510 million. This transaction is part of TotalEnergies' ongoing strategy to optimize its upstream portfolio.
The divestment allows TotalEnergies to reallocate capital to other strategic projects, including those with lower emissions or higher growth potential. The Bonga field is a mature asset, and its sale aligns with the company's active portfolio management.
For investors, this significant divestiture demonstrates TotalEnergies' disciplined approach to capital allocation and its commitment to high-grading its assets. The proceeds from the sale can be used to fund new investments or strengthen the company's balance sheet.
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