Nigeria: TotalEnergies Strengthens Its Partnership with SAPETRO to Support the Fast Development of OPL257
Business Wire•30/10/2026•03:56 ET
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Key Highlights
- ➤TotalEnergies sells SAPETRO a 40% interest in offshore Nigerian block OPL257
- ➤TotalEnergies will retain 50% operated interest; SAPETRO holds 40%, Conoil 10%
- ➤OPL257 appraisal campaign will assess Egina South development as an Egina FPSO tie-back
- ➤Transaction requires customary conditions, including regulatory approvals
- ➤TotalEnergies produced 188,000 boe/d in Nigeria in 2025
Expert Statements
Mike Sangster, SVP Africa Exploration & Production at TotalEnergies
“TotalEnergies is pleased to have SAPETRO as a partner in OPL257 as well as in the adjacent PPL261 block. Consolidating our long-term partnership paves the way for a quick appraisal campaign and subsequent development of Egina South in the success case.”
Mike Sangster, SVP Africa Exploration & Production at TotalEnergies
“For TotalEnergies, this is consistent with our strategy to develop low-cost, low-emission resources while leveraging existing facilities.”
Nigeria: TotalEnergies Strengthens Its Partnership with SAPETRO to Support the Fast Development of OPL257
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed a Farm-Out Agreement to sell to South Atlantic Petroleum Limited (“SAPETRO”) a 40% participating interest in offshore block OPL257, Nigeria. Upon completion of this transaction, TotalEnergies will hold a 50% operated interest in OPL257 alongside SAPETRO (40%) and Conoil (10%).
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