TEMPLARS Advises TotalEnergies on its $510 Million Divestment of 12.5% Interest in OML 118 (Bonga Field)

OML118 PSC is operated by SNEPCo (55%), in partnership with Esso Exploration and Production Nigeria (20%), TotalEnergies EP Nigeria (12.5%), and Nigerian Agip Exploration (12.5%). Located deep offshore at 120 km south of the Niger Delta in Nigeria, it contains the Bonga field, which started production in 2005, as well as the Bonga North field, the development of which started in 2024.

The TEMPLARS multi-disciplinary team was led by Partners, Yemisi Awonuga and Dupe Saba (nee Dabiri). She was supported by Managing Counsel, Ifure Udofa and Associates, Mariam Adebayo  and Theophilus Eke. Tax support was provided by Partner, Sesan Sulaiman and Associate, Chibuike Ikefuna, while Competition Law support was provided by Partner, Zelda Akindele and the Labour Law support by Inam Wilson, SAN. Disputes Support was provided by Partner, Igonikon Adekunle, with Managing Counsel, Orji A. Uka.