TotalEnergies has agreed with Conoil Producing Limited to acquire a 50% operated interest in OPL257, increasing its total stake to 90%, while Conoil retains 10%. In exchange, Conoil acquires TotalEnergies’ 40% participating interest in OML136. Both blocks are located offshore Nigeria.
OPL257 includes an oil discovery made in 2005 on PP261. TotalEnergies plans to drill an appraisal well in 2026 and aims to leverage nearby Egina resources via existing FPSO infrastructure for swift development.
This move aligns with TotalEnergies’ strategy to focus on operated offshore and gas assets in Nigeria and accelerate development projects. Recent initiatives such as the Ubeta FID in June 2024 and entry into PPL2000/2001 in August 2025, along with the Akpo West start-up in February 2024, reflect the company’s commitment to sustained investment and production growth in Nigeria.
#TotalEnergies #NigeriaOil #OPL257 #OffshoreOil #EnergyInvestment #Conoil #OilExploration #FPSO #AkpoWest #Ubeta #NigerianEconomy
