TotalEnergies has strengthened its presence in Nigeria’s oil sector by acquiring a 50% operated interest in block OPL 257 from its long-standing partner, Conoil Producing Limited. As part of the agreement, Conoil has also acquired a 40% participating interest in block OML 136, which was previously held by TotalEnergies. Both blocks are located offshore Nigeria, with OPL 257 containing an oil discovery made in 2005.
Following this transaction, TotalEnergies’ interest in OPL 257 will increase to 90%, while Conoil will retain a 10% stake. The company plans to drill an appraisal well in 2026 as part of its next drilling campaign, with the goal of swift appraisal and potential tie-back to the existing Egina FPSO. This move is seen as a strategic step by TotalEnergies to focus on operated perimeters in gas and offshore oil, as well as accelerate development opportunities in Nigeria.
TotalEnergies has demonstrated its commitment to investing in Nigeria’s energy sector, with recent milestones including the Ubeta Final Investment Decision (FID) in June 2024 and entry into the PPL 2000/2001 offshore exploration in August 2025. The company’s strategy is aimed at growing production and supporting Nigeria’s national objective to attract investments and increase output.
The acquisition of a 50% stake in OPL 257 is the latest development in TotalEnergies’ engagement with Nigeria, which also includes the start-up of the Akpo West field in February 2024. These investments underscore the company’s dedication to the country’s energy sector and its role in promoting economic growth. As TotalEnergies continues to expand its operations in Nigeria, the company is poised to play a significant role in shaping the country’s energy landscape.
