TotalEnergies has reached new agreements with Conoil to secure an extra 50% interest in the OPL 257 exploration block, taking its ownership up to 90%.
The deal is part of efforts to consolidate TotalEnergies’ position in Nigeria’s offshore oil sector by leveraging existing infrastructure for cost-efficient growth.
The block sits about 150 km off Nigeria’s coast and borders PPL 261, where TotalEnergies and its partners discovered the Egina South field in 2005. An appraisal well on OPL 257 is set for 2026.
TotalEnergies, active in Nigeria for more than 60 years, reported producing 209,000 barrels of oil equivalent per day in the country in 2024.
source: www.reuters.com
African Energy Council