TotalEnergies has strengthened its position in Nigeria’s offshore oil sector by acquiring an additional 50% interest in oil exploration block OPL 257 from long-standing Nigerian partner Conoil. This strategic move brings TotalEnergies’ holding in the block to 90%, with Conoil retaining a 10% stake. The agreement is pending regulatory approval.
Located 150 kilometers off Nigeria’s coast, OPL 257 sits adjacent to PPL 261, the site of the Egina South oil discovery in 2005—a project also involving TotalEnergies and its partners. As part of the new deal, an appraisal well on OPL 257 is scheduled for 2026, underscoring the block’s ongoing development potential.
TotalEnergies’ approach focuses on leveraging its existing offshore infrastructure in Nigeria for efficient, cost-effective growth. The company, which has operated in Nigeria for over six decades, reported production of 209,000 barrels of oil equivalent per day in the country in 2024.
This acquisition marks another step in TotalEnergies’ commitment to consolidating its leadership in one of Africa’s most important energy markets, while continuing to collaborate with Nigerian partners for mutual growth and value creation.
