TOTALENERGIES BOOSTS STAKE IN NIGERIAN OFFSHORE BLOCK OPL257
GREATRIBUNETVNEWS–TotalEnergies has signed agreements with Conoil Producing Limited to increase its interest in offshore block OPL257 in Nigeria. Here are the key points:
– Increased Stake : TotalEnergies to acquire 50% operated interest in OPL257, boosting its stake to 90%.
– Conoil’s Gain: Conoil acquires TotalEnergies’ 40% interest in block OML136.
– Exploration Plans: TotalEnergies plans to drill an appraisal well in OPL257 in 2026, targeting swift development.
– Strategic Location: OPL257’s proximity to Egina allows for potential tie-back to existing FPSO.
– Nigeria Focus : Transaction aligns with TotalEnergies’ strategy to prioritize operated gas and offshore oil projects in Nigeria .
With the Ubeta FID in June 2024 and entry in PPL2000/2001 offshore exploration in August 2025, the company is strongly committed to its strategy of continuous investments in Nigeria and to growing production.
The Akpo West start-up in February 2024, Ubeta FID in June 2024, entry into PPL 2000/2001 deepwater exploration in Aug 2025 and this increase of stakes on OPL257 highlight TotalEnergies commitment to the country and support to Nigeria’s national objective to attract investments and grow production.
About the Author
