Total farms into new license in Nigeria

Total has signed an agreement with Nigeria’s Conoil Producing Limited to farm into the deep offshore OPL 257 license with a 40% interest. Conoil remains the operator with a 50% interest, and a local company holds the remaining 10%.

The Nigerian government has approved this transaction.

Covering an area of 372 square kilometres, OPL 257 is located some 150 kilometres offshore, in water depths ranging from 1,600 to 1,800 metres. It lies south of OML 130, where the Akpo and Egina fields, operated by Total, are situated, and north of the Joint Development Zone administered by Nigeria and Saõ Tomé and Principe.

Total will be the technical advisor. Conoil started its activity in 1984 and currently operates six licenses in the Niger Delta. The partners of OPL 257 will jointly conduct further exploration, appraisal and development works of any commercial discovery.