TotalEnergies makes new acquisition for Egina South development

In major transactions offshore Nigeria, Nigerian independent, Conoil Producing Limited, has entered block OML136 following the acquisition of a 40% participating interest from TotalEnergies, while selling a 50% operated interest in block OPL257 to TotalEnergies, retaining 10%

As TotalEnergies becomes the operator of OPL257 with a 90% interest, the company is looking at an area of around 370 sq kms that makes up the block, situated 150 kms offshore the coast of Nigeria. This is adjacent and extends to PPL 261, where the Egina South field was discovered. The OPL257 side includes an appraisal well of Egina South which is set to be drilled next year, before it is developed as a tie-back to the Egina FPSO, located approximately 30 km away.

"This transaction, built on our longstanding partnership with Conoil, will enable TotalEnergies to proceed with the appraisal of the Egina South discovery, an attractive tie-back opportunity for Egina FPSO. This fits perfectly with our strategy to leverage existing production facilities to profitably develop additional resources and to focus on our operated gas and offshore oil assets in Nigeria," said Mike Sangster, senior vice-president Africa, Exploration & Production at TotalEnergies.