REG-TotalEnergies SE Nigeria: TotalEnergies Strengthens Its Partnership with SAPETRO to Support the Fast Development of OPL257
Business Wire•30/10/2026•03:57 ET
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Key Highlights
- ➤TotalEnergies (TTE) sells 40% OPL257 interest to SAPETRO
- ➤TotalEnergies retains 50% operated interest alongside SAPETRO and Conoil
- ➤OPL257 appraisal campaign targets potential Egina South tie-back development
- ➤Egina FPSO is approximately 30 kilometers from the potential tie-back
- ➤Transaction completion requires regulatory approvals and other customary conditions
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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