TotalEnergies announced the sale of two oil fields in Nigeria, Africa’s leading oil exporter. The Olo and Olo West blocks were sold to local firm Aradel Holdings for $19.5 million, according to the media report.

The company has been reducing its investments in Africa, optimizing its oil and gas portfolio, and cutting management. In July, the company sold 10% of its shares in Shell Petroleum Development Company of Nigeria Limited, exiting 18 oil and gas projects in the Niger Delta.

These actions aim to bolster the role of Nigerian national companies in oil extraction, previously limited to receiving royalties.