TotalEnergies Secures Major Offshore Exploration Rights in Nigeria

TotalEnergies has signed a production sharing contract for two offshore exploration permits in Nigeria. This marks the company’s first successful bid in the country’s licensing round in over a decade. The agreement covers two blocks in the West Delta basin, spanning approximately two thousand square kilometres.

Under the terms of the deal, TotalEnergies will operate the blocks with a majority stake, while its partner South Atlantic Petroleum holds the remaining share. The work programme includes drilling exploration wells to assess the potential of these deepwater areas.

Company officials described the awards as an important milestone in their long partnership with Nigeria. They emphasised that the blocks fit with TotalEnergies’ strategy of pursuing promising prospects capable of low-cost development.

The signing ceremony in Abuja was attended by officials from Nigeria’s petroleum regulatory commission and the national oil company. Government representatives praised recent reforms in the sector which have helped attract new investment.

This contract represents Nigeria’s first comprehensive production sharing agreement covering both crude oil and natural gas exploration and production. It includes special terms designed to encourage the development of gas discoveries.

TotalEnergies has been present in Nigeria for more than sixty years and currently employs nearly two thousand people in the country. This new development supports Nigeria’s goal of increasing its oil production while attracting further investment to its energy sector.

The blocks are expected to help expand Nigeria’s reserves and assure long-term production growth if commercial discoveries are made. The project represents a significant vote of confidence in Nigeria’s energy industry and its potential for future development.