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TotalEnergies sells its oil interest in the Renaissance JV (formerly SPDC) in Nigeria to Vaaris

January 2026

Client(s) TotalEnergies SE

Jones Day is advising TotalEnergies in connection with the Sale and Purchase Agreement (SPA) signed by its subsidiary, TotalEnergies EP Nigeria, with Vaaris for the sale of its 10% interest in the Renaissance JV licenses 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 licenses in the Niger Delta.

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