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TotalEnergies has deepened its footprint in Nigeria’s offshore oil sector through a series of transactions with its long-term partner, Conoil Producing Limited. Under the agreements, TotalEnergies will acquire a 50 per cent operated interest in block OPL 257, while Conoil takes over the 40 per cent participating interest previously held by TotalEnergies in block OML 136.
Following the deal, TotalEnergies’ stake in OPL 257 will rise to 90 per cent, leaving Conoil with the remaining 10 per cent. Both blocks are situated offshore, in an area that has been part of Nigeria’s developing deepwater portfolio for decades. OPL 257, in particular, includes a discovery made in 2005 on PP 261, a structure that straddles the block. The French oil major plans to drill an appraisal well in 2026, aiming for a swift assessment of the reservoir. Its proximity to the Egina field also presents the potential to tie back the resources to existing infrastructure, including the FPSO, which could accelerate production.
TotalEnergies said the transaction reflects its ongoing strategy in Nigeria: focusing on operated perimeters in gas and offshore oil, and prioritizing opportunities that can be fast-tracked to development. The company pointed to a series of recent milestones to underline its commitment to the country. These include the Akpo West start-up in February 2024, the final investment decision for the Ubeta project in June 2024, and its entry into deepwater exploration under PPL 2000/2001 in August 2025.
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“The increase of stakes in OPL 257, alongside these other projects, highlights TotalEnergies’ commitment to Nigeria and its support for the country’s national objectives of attracting investments and growing production,” the company said in a statement.
The moves underscore TotalEnergies’ intention to maintain a leading role in Nigeria’s offshore developments while leveraging its operational control to accelerate resource appraisal and production growth. For the Nigerian oil sector, these transactions represent a continuation of foreign investment momentum that has been central to the country’s strategy of expanding deepwater output.
