TotalEnergies sells 40 percent stake in Nigerian offshore block to SAPETRO
TotalEnergies signed an agreement to farm out a 40 percent stake in offshore Nigerian block OPL257 to South Atlantic Petroleum ahead of appraising the Egina South discovery.
FTMQ Climate, written by our newsroom0 views
TotalEnergies signed an agreement to sell a 40 percent stake in offshore exploration block OPL257 in Nigeria to local company South Atlantic Petroleum, Rigzone and Brand Icon Image reported. The transaction leaves French company TotalEnergies with a 50 percent operating interest in the block. [1][3]
The OPL257 block is located nearly 95 miles, or 150 kilometers, off the Nigerian coast, Rigzone reported. Local firm Conoil PLC retains a 10 percent interest in the block. [1]
The partners are preparing to appraise the Egina South discovery, which was originally made in 2005, Rigzone reported. The crude oil discovery straddles OPL257 and adjacent block PPL261. [1]
Major international energy companies maintain a significant presence in global petroleum markets alongside corporate peers such as London-headquartered Shell plc. [4]
In short
- TotalEnergies agreed to farm out a 40 percent stake in Nigerian offshore block OPL257 to South Atlantic Petroleum.
- TotalEnergies will remain operator of OPL257 with a 50 percent stake, while Conoil holds 10 percent.
- The OPL257 license area lies approximately 150 kilometers off the coast of Nigeria.
- The partners are preparing to appraise the Egina South discovery made in 2005.
Sources
Every paragraph above points to the numbered items it rests on. Read the originals here.
- [1]TotalEnergies Farms Out Nigerian Exploration BlockRigzone News, 2d ago (the report this story comes from)
- [2]TotalEnergies Farms Out Nigerian Exploration BlockRigzone, 2d ago
- [3]TotalEnergies Sells 40% Stake in Nigerian Offshore Block to SAPETROBrand Icon Image, 4d ago
Background
- [4]Shell plc on Wikipedia
Our newsroom writes these reports with the help of software, from the 4 sources listed and nothing else, and checks them against those sources. Facts can still be wrong or move on; the originals are the record. Spotted a mistake? Write to daniel@monsterkong.com.
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