TotalEnergies Increases Ownership in Nigeria’s OPL 257 as Offshore Strategy Advances
TotalEnergies has signed new agreements with Conoil to acquire an additional 50% interest in the OPL 257 exploration block, raising its total stake to 90%. The move strengthens the company’s strategic position in Nigeria’s offshore oil sector and supports its goal of achieving cost-efficient production growth by utilising existing offshore infrastructure.
OPL 257 lies approximately 150 kilometres off Nigeria’s coast and borders PPL 261, the site of the Egina South discovery made by TotalEnergies and its partners in 2005.
An appraisal well on OPL 257 is scheduled for drilling in 2026, marking the next phase of exploration activity in the block.
TotalEnergies, which has been active in Nigeria for more than six decades, produced 209,000 barrels of oil equivalent per day in the country in 2024.
The expanded stake in OPL 257 further reinforces its long-term commitment to Nigeria’s deepwater sector and future production growth.
