BOLDEN African News · Friday 30 October 2026
SAPETRO agrees to buy a 40% stake in TotalEnergies' offshore block OPL257
TotalEnergies signed a farm-out agreement on 30 October under which SAPETRO, the company of TY Danjuma, will take a 40% participating interest in offshore block OPL257, which holds part of the Egina South discovery. After closing, TotalEnergies keeps 50% and stays operator, and Conoil keeps 10%. The price was not disclosed and completion needs Nigerian regulatory approval.
Why it matters
A Nigerian-owned company taking a large share of a deepwater block alongside a major operator.
Source: Billionaires.Africa · 2 November 2026