Saturday, July 11, 2026

Total announces plans to exit Nigeria’s onshore oil fields

International companies are thought to be concentrating on deep-water areas in order to avoid the difficulties of operating in close proximity to local inhabitants.

• April 28, 2022
Total
Total

French energy giants Total Energies on Thursday said that it will soon exit Nigeria’s onshore oil field.

The French oil giant announced plans to sell its minority stake in a Nigerian oil joint venture, joining the exodus of supermajors from onshore fields in Africa’s largest crude producer, per Bloomberg report.

Patrick Pouyanne, the CEO of Total Energies, said the French oil giant will sell off its 10 per cent investment in a business that has 20 onshore and shallow water permits in Nigeria. This comes as Shell Plc; the license operator is considering offers from four local companies for its 30 percent ownership in the company.

According to Mr Pouyanne, disruption of local communities is a source of great concern in the country.

For over a decade, oil majors have been selling onshore and shallow water properties to Nigerian independent producers. In February, Exxon Mobil agreed to sell off its Nigerian assets to Seplat Energy Plc for at least $1.28 billion.

International companies are thought to be concentrating on deep-water areas in order to avoid the difficulties of operating in close proximity to local inhabitants.

The oil companies’ increasing disengagement comes at a time when the country is failing to achieve its OPEC quota.

The withdrawal of major oil companies from joint ventures with the Nigerian government is becoming an issue of great concern as Nigeria still relies heavily on oil exploration to fund its economy.

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

farmers

Agriculture

FG tasks ECOWAS on leveraging financing strategies for agroecology

The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

President Bola Tinubu and Kashim Shettima

Politics

Tinubu-Shettima ticket roadmap to APC’s victory in 2027: Zamfara Lawmaker

The lawmaker described it as a milestone toward the APC’s victory in the upcoming general elections.

Police arrest 14 suspected drug peddlers in Yobe

States

Police arrest 14 suspected drug peddlers in Yobe

The suspects were arrested during an operation targeting criminal hideouts and drug joints.

Hajja Konto

Politics

2027: Labour Party unveils Hajja Konto as vice-presidential candidate

Mr Asogwa said her nomination underscored the party’s commitment to gender inclusion, national unity and competent leadership.

Gov Yusuf visits Shettima

Heading 3

Gov Yusuf visits Shettima, congratulates him on emergence as Tinubu’s running mate

Mr Yusuf described Mr Shettima’s emergence as recognition of his commitment and service to the nation.

Rainfall

States

Islamic cleric urges Borno residents to seek Allah’s forgiveness over erratic rainfall

The cleric expressed optimism that through sincere repentance and prayers, Allah would shower the state with abundant rainfall and blessings.

President Bola Tinubu and Kashim Shettima

NationWide

Tinubu choosing Shettima as 2027 running mate gives APC full control of north, lawmaker says

The senator expressed confidence that northern voters would overwhelmingly support the Tinubu-Shettima ticket.