Company Movehigh confidence
TotalEnergies Farms Out Nigerian Exploration Block
www.rigzone.com · November 1, 2026 · Week 2026-44
Summary
TotalEnergies has agreed to sell a 40% interest in the OPL257 offshore exploration block in Nigeria to local player South Atlantic Petroleum. This farm-out is part of the IOC's ongoing portfolio optimization as it prepares to appraise the Egina South discovery, potentially freeing up capital for core regions.
Strategic Implication
The deal highlights the ongoing trend of IOCs rationalizing non-core assets globally, which can shift capital and focus towards strategic, high-return projects in regions like the Middle East.