As major oil companies continue to pull out of troubled onshore operations in Nigeria, Chappal Energies Mauritius Ltd. has agreed to pay $860 million to acquire TotalEnergies SE's 10% interest in the country's oil and gas assets.

Nigerian-owned Chappal Energies said in a statement on Wednesday that the agreement includes a 10% stake in 15 oil mining leases as well as the Forcados and Bonny export terminals, which are a part of the Shell Petroleum Development Co. joint venture.

TotalEnergies, the massive French energy company, stated in a separate statement that production from those licenses accounted for about 14,000 barrels equivalent per day for the company last year.

Additionally, Bloomberg reported that TotalEnergies will provide Chappal Energies its 10% stake in the three additional SPDC JV licenses, which produce primarily gas.

For over ten years, Nigerian oil giants have been selling offshore and shallow water blocks to local producers, putting infrastructure at risk from frequent petroleum theft.