At a Glance
- Conoil and TotalEnergies join forces to expand Nigeria’s offshore and onshore oil production.
- The partnership supports Nigeria’s goal of raising daily output beyond 1.8 million barrels.
- The deal underscores investor confidence and long-term commitment to Nigeria’s energy industry.
Conoil Producing Limited and TotalEnergies have signed a major production deal in Paris that could boost Nigeria’s oil and gas output.
The agreement, witnessed by Conoil Chairman Dr. Mike Adenuga Jr. and TotalEnergies CEO Patrick Pouyanné, marks a new phase of cooperation between Nigeria’s leading indigenous producer and the French energy giant.
The deal was signed on Wednesday at TotalEnergies’ global headquarters in La Défense, Paris, with Dr. Mike Adenuga Jr., Chairman of Conoil Producing, and Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies, in attendance. Both leaders described the agreement as a strong vote of confidence in Nigeria’s oil and gas potential and a step toward strengthening bilateral energy ties.
Strengthening Nigeria’s Energy Base
Under the new agreement, Conoil Producing and TotalEnergies will jointly develop high-yielding oil and gas fields in Nigeria’s offshore and onshore basins. The partnership aims to boost national output, attract more foreign investment, and expand access to cleaner and more efficient production technologies.
Energy officials familiar with the talks said the collaboration aligns with the Nigerian government’s renewed drive to increase daily oil production above 1.8 million barrels per day and improve local participation in upstream operations.
“Today’s signing reaffirms our belief in Nigeria’s resources and our readiness to keep investing for long-term growth,” Pouyanné said after the ceremony. “TotalEnergies has been a partner in Nigeria for more than six decades, and this marks another important chapter in that relationship.”
Adenuga’s Push for Sustainable Growth
Dr. Adenuga, whose Conoil Producing is Nigeria’s foremost indigenous oil producer, said the agreement underscores the company’s commitment to sustainable energy development.
“This partnership is not only about expanding output; it’s about building value for Nigeria,” Adenuga said. “Our focus is to create opportunities for local talent, enhance capacity, and contribute to the nation’s economic stability.”
Analysts say the collaboration could help Nigeria bridge investment gaps in the upstream sector and improve efficiency in exploration and production, especially as the country works to attract capital in an era of shifting global energy priorities.
Renewed Confidence in Nigeria’s Energy Outlook
The partnership adds to a string of recent developments suggesting renewed confidence among global oil majors in Nigeria’s energy market. With the federal government pushing reforms through the Petroleum Industry Act and expanding incentives for investors, industry experts see this deal as a timely signal that Nigeria remains a key player in Africa’s energy future.
“This is a practical step toward rebuilding trust and production strength,” said an Abuja-based energy analyst. “Partnerships like this show that Nigeria is still open for business — and ready for growth.”
