TotalEnergies Sheds Partial Stake Ahead of Appraisal Ops at Nigerian Block

November 2, 2026 · 6 minutes ago

TotalEnergies has set the wheels in motion to sell a partial interest in an offshore block to SAPETRO to fast-track the appraisal of a Nigerian field.

France’s energy giant TotalEnergies is bringing South Atlantic Petroleum Limited (SAPETRO) on board as a partner in the offshore block OPL257, setting the stage for an upcoming appraisal campaign that could enable the tie-in of an undeveloped field directly into an existing floating production, storage, and offloading (FPSO) infrastructure for low-cost development.

TotalEnergies has signed a farm-out agreement to sell to SAPETRO a 40% participating interest in Nigeria’s offshore block OPL257, which will see it retail a 50% operated interest in the asset, while SAPETRO and Conoil will hold the remaining 40% and 10% stakes, respectively.