Chappal Energies has agreed to purchase TotalEnergies’ stake in the country’s oil assets for $860 million.
According to Bloomberg, the deal includes a 10 percent interest in 15 oil mining leases and the Forcados and Bonny export terminals, part of the Shell Petroleum Development Company joint venture.
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Chappal’s financing will be provided by an entity related to TotalEnergies or a financial institution selected by the French company, according to a statement by Bloomberg.
Trading house Trafigura and a syndicate of international banks are also providing funds.
The deal is expected to close by Dec. 31.
