TotalEnergies Boosts Stake in Nigeria’s OPL 257 After Strategic Asset Swap With Conoil
Story: written by Joseph November 20,2025
TotalEnergies has entered a new agreement with its long-time partner, Conoil Producing Limited, to deepen its footprint in Nigeria’s offshore energy sector. Under the deal, TotalEnergies will acquire an additional 50% operating stake in OPL 257 from Conoil. In exchange, Conoil will take over TotalEnergies’ 40% participation in OML 136.
Both oil blocks sit offshore Nigeria, and the transaction substantially increases TotalEnergies’ holding in OPL 257 to 90%, leaving Conoil with the remaining 10%.
OPL 257 contains an oil discovery made in 2005 on structure PP261, which spans across the block. TotalEnergies plans to drill an appraisal well in 2026 as part of its upcoming drilling schedule, aiming for quick evaluation. Its closeness to the Egina field offers a strong opportunity to tie new resources to existing FPSO infrastructure.
According to TotalEnergies, this move aligns with its strategic focus in Nigeria—concentrating on operated assets in offshore oil and gas, speeding up project development, and supporting national goals for increased investment and output.
With milestones such as the Ubeta Final Investment Decision (FID) in June 2024 and entry into PPL 2000/2001 in August 2025, the company says it remains firmly committed to sustained investment in Nigeria. Recent developments like the Akpo West start-up, Ubeta advancement, and now the strengthened stake in OPL 257 reinforce TotalEnergies’ long-term presence and support for Nigeria’s production growth ambitions.
