TotalEnergies agreed to sell its 12.5% stake in the offshore Bonga oilfield to Shell for $510 million, raising Shell’s interest to 67.5% pending approvals. Partners plan an expansion designed to add roughly 110,000 boe/d before decade’s end. The deal follows a broader reshaping of portfolios as majors exit onshore assets while doubling down on offshore projects.
Shell to acquire TotalEnergies’ 12.5% stake in Bonga for $510m
