TotalEnergies has signed agreements with its long-term partner, Conoil Producing Limited, to acquire a 50% operated interest in Block OPL257, while Conoil will acquire the 40% participating interest held by TotalEnergies in Block OML136. Both blocks are located offshore Nigeria.

Following the transaction, TotalEnergies’ stake in OPL257 rises to 90%, with Conoil retaining the remaining 10%.

OPL257 includes an oil discovery made in 2005 on PP261, a structure spanning the block. TotalEnergies plans to drill an appraisal well in 2026, with the goal of rapid evaluation. Its proximity to Egina allows potential tie-backs to the existing FPSO, optimizing resource development.

The deal aligns with TotalEnergies’ strategy in Nigeria to focus on operated offshore oil and gas assets and accelerate development projects. Recent milestones, including the Ubeta FID in June 2024, entry into PPL2000/2001 deepwater exploration in August 2025, and the Akpo West start-up in February 2024, underscore the company’s ongoing commitment to investment and production growth in Nigeria.

TotalEnergies’ increased involvement in OPL257 demonstrates its support for Nigeria’s goal of attracting investments and expanding oil and gas output.