Shell to acquire TotalEnergies’ 12.5% stake in Bonga for $510m

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.

Source: https://www.reuters.com/business/energy/totalenergies-sell-bonga-field-interest-510-million-2025-05-29/