TotalEnergies Boosts Nigeria Offshore Position With Bigger OPL257 Stake

TotalEnergies has strengthened its deepwater footprint offshore Nigeria after signing reciprocal deals with Conoil Producing that will lift the French major’s operated interest in block OPL257 from 40% to 90%. In exchange, Conoil will acquire TotalEnergies’ 40% stake in block OML136. The move consolidates TotalEnergies’ control over one of its most strategically positioned Nigerian offshore blocks. OPL257 sits adjacent to PPL 261, where the company and partners discovered the Egina South field two decades ...