TotalEnergies has signed a Farm-Out Agreement to sell a 40% participating interest in the offshore block OPL257, Nigeria, to South Atlantic Petroleum Limited (SAPETRO), according to a press release issued from Paris on October 30, 2026.

Upon completion of the transaction, TotalEnergies will hold a 50% operated interest in OPL257, alongside SAPETRO with 40% and Conoil with 10%. The completion of the transaction remains subject to customary conditions, including regulatory approvals.

Block Adjacent to Egina South Discovery

OPL257 is located 150 kilometers offshore Nigeria. The block is adjacent to PPL261, where TotalEnergies holds a 24% interest and, together with its partners including SAPETRO, discovered the Egina South field in 2005. The field straddles both blocks.

According to the company, an appraisal campaign on the OPL257 side of the field will be undertaken in the coming months to support the potential development of Egina South as a tie-back to the Egina FPSO, which is located approximately 30 kilometers away.

Strategic Rationale

Mike Sangster, SVP Africa Exploration & Production at TotalEnergies, said, "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."

The company stated that, for TotalEnergies, the transaction is consistent with its strategy to develop low-cost, low-emission resources while leveraging existing facilities.

TotalEnergies' Longstanding Nigerian Operations

TotalEnergies has been present in Nigeria for more than 60 years and employs more than 1,800 people across different business segments.

Nigeria is one of the main contributing countries to TotalEnergies' hydrocarbon production, with 188,000 boe/d produced in 2025. The company also operates an extensive distribution network in the country that includes about 540 service stations.

TotalEnergies Advances Portfolio Restructuring and Exploration Strategy

TotalEnergies describes itself as a global integrated energy company producing and marketing oil and biofuels; natural gas; biogas; low-carbon hydrogen; renewables; and electricity; with more than 100,000 employees active in about 120 countries.

The OPL257 farm-out follows other recent announcements by the company in Nigeria and beyond.

On October 27, 2026, TotalEnergies announced the completion of the divestment of its oil interest in the Renaissance JV, formerly SPDC, and on October 28, 2026, the company announced that it had entered 26 Chevron-operated offshore exploration blocks in the United States.

From Cape Town to Cairo: Seize Every Global Energy Opportunity Today

How many megaprojects slip past your radar each quarter? Across the world, offshore developments, refinery expansions, and pipeline ventures are moving forward right now, and the companies that track them early are the ones winning the contracts.

The Global Project Tracking (GPT) platform by Blackridge Research gives you a live, global view of oil and gas sector activity, from exploration blocks to gas monetization schemes. Instead of relying on fragmented reports and rumors, you get verified intelligence on who is building what, when, and with which contractors.

Every project profile in the database covers the full lifecycle, so you can enter conversations at the right moment, whether you sell equipment, EPC services, financing, or logistics support.

• Upcoming Projects

• Tender Notices

• Contract Awards

• Projects Under Construction

• Completed Projects

Book a Free Demo of the Global Project Tracking (GPT) platform by Blackridge Research and start mapping the worldwide oil and gas pipeline today.